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Global Gardens Group

River Diamonds PLC - Placing of #5.5 million

RNS Number : 0722W River Diamonds PLC 05 June 2008 AIM: RVD River Diamonds Plc ('River Diamonds' or 'the Company') Placing of #5.5 million River Diamonds is pleased to announce that it has raised gross proceeds of #5,537,500 through the issue of 130,294,118 ordinary shares at a placing price of 4.25p per share, representing approximately 7.1% of the enlarged issued share capital. Application will be made for the new shares to be admitted to trading on AIM and it is expected that admission will take place on or around 13 June 2008. It is currently intended that these funds will be used to explore the viability of expanding operations at the Company's wholly-owned Vatukoula Gold Mine in Fiji ('Vatukoula' or 'the Project'), with a view to increasing future gold production levels beyond the current long term annual target of 117,000 ounces. The total number of ordinary shares in issue following this placing and issue of shares is 1,831,782,837. David Lenigas, Executive Director of River Diamonds, commented, 'We are pleased with the successful conclusion of this fundraising which underlines investors' conviction in the Vatukoula project. We now look forward to examining the possibility of an expansion of operations at Vatukoula. This decision evidences our commitment to and expectations for the Project where production is progressing well following the first gold pour announced in May. We will continue to keep investors updated with production numbers in due course.' Enquiries: River Diamonds plc Hichens, Harrison & Co plc David Lenigas + 44 20 7016 5100 Dave Paxton + 44 20 7382 7785 Colin Orr Ewing + 44 20 7352 4117 W.H. Ireland Limited Parkgreen Communications David Porter + 44 20 7220 1666 Louise Goodeve + 44 20 7851 7480 James Joyce Justine Howarth This information is provided by RNS The company news service from the London Stock Exchange END ROIUVVARWORNRAR

Quick facts: Global Gardens Group

Price: £0.00

Market: CSE
Market Cap: £0.00
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