Gravity to boost PR for AIM float

MELBOURNE: Australian Diamond miner Gravity Diamonds is to appoint financial comms support for its planned listing on AIM later this year.

Gravity Capital chairman Nic Limb, whose company announced the listing of its subsidiary last Friday, told PRWeek that the company was still pitching for broker support but that Gravity Capital would be taking on an outside PR agency.

He added that it was unlikely that a formal pitch process would be organised and that the company was far more likely to accept the recommendation of whichever broker won the contract to handle the float.

Limb said Gravity Capital was using Australian broker RFC Corporate Finance as a nominated adviser.

Brokers in the running for the flotation include Numis Securities, Canaccord Capital, Williams de Broe and Insinger de Beaufort.

Listed on Australian stock market ASX, Gravity Diamonds has already raised around £4.2m for an exploration of potential diamonds in the war-torn Democratic Republic of Congo in partnership with Anglo-Australian mining giant BHP Billiton, which owns around ten per cent of Gravity Diamonds.

Limb said the financial comms push would promote the likelihood of finding new mines in the DRC.

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