LONDON (Thomson Financial) - Target Resources Plc. said Laurelton Diamonds
Inc. has increased the short-term debt facility it made available to Target
Resources in April 2008 by $1.5 million, adding that funding was needed after
"unforeseen" delays.
Chief executive officer Nissim Levy has made available a short term loan of
$1.25 million to the company.
The company posted a wider pretax loss of 4.25 million pounds for the six
months to end-April compared with 2.46 million pounds in the year-ago period.
Total turnover reduced to 123,391 pounds from 178,764 pounds.
Going further, Target Resources said it is able to reach increased scale
diamond production, expected to be around September 2008.
TFN.newsdesk@thomson.com
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