Frontier Diamonds Ltd  has been admitted to the ASX – the Australia-based stock  exchange –    today. Frontier’s shares  will begin trading on the ASX from January 5, 2018.

The Company was listed on the exchange after it had successfully raised approximately  $ 4 million from an initial public offer.

Reports indicate  that the  company  has an agreement to acquire a 74% interest in a group of companies operating diamond mines in the globally renowned Kimberley region of South Africa”.

Currently, Frontier is  focusing on two operational  diamond mines in South Africa. These are the Star and Sedibeng diamond mines -- both  60 years old.  While Star  is currently operating at depths of between 580 and 620 metres below the surfaceit is said, the Sedibeng Diamond Mine, with all the  infrastructure in place, has  mining licenses  which straddle a single continuous ore body called the “Bobbejaan” fissure.

“Since acquiring the Sedibeng and Star Diamond Mines from Petra in 2014, Frontier’s strategy has been to restart operations and to make capital development and operational changes to cut costs and deliver strong improvements in operational efficiencies,” the Company says on its website. “The Company is utilising their extensive expertise in engineering services and underground mining operations to make productivity improvements at their two existing mines and to further develop the operations from a low cost investment base. These mine have good grades, produce relatively high value diamonds, have been profitable the past two years in generating cash flow and have resources to last at least 15 years. Management’s strategy is to build on this solid foundation and are actively looking at other opportunities in its strategy to grow into a significant producer of high quality diamonds.”