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Target Resources said Tuesday that, an alluvial diamond and gold mining company operating in Sierra Leone, said Tuesday that it is close to achieving its targeted throughput rates.
However, due to yields being initially lower than anticipated, and the world market diamond price falling significantly, the Company is as yet unable to cover its overheads.
In light of the above, the Company is looking to secure further funding and has held initial discussions with Tiffany & Co, its principal lender, who have not yet decided what level of funding, if any, they are able to commit.
(END) Dow Jones Newswires
01-20-09 0517ET
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