{"id":50535,"date":"2023-08-04T11:36:25","date_gmt":"2023-08-04T11:36:25","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-shares-rally-140-on-75m-diamond-mine-coinvestment"},"modified":"2023-08-04T11:48:34","modified_gmt":"2023-08-04T11:48:34","slug":"trustco-shares-rally-140-on-75m-diamond-mine-coinvestment","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-shares-rally-140-on-75m-diamond-mine-coinvestment","title":{"rendered":"Trustco Shares Rally 140% on $75M Diamond Mine Coinvestment"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Trustco Group Holdings\u2018 shares have rallied over 140% in the past week after the company announced a $75 million coinvestment in its Meya diamond mining project in Sierra Leone.<\/p>\n

Trading at 58c per share prior to the July 27 announcement, Trustco\u2019s stock closed at 140c yesterday as investors cheered the transformative investment. This massive 140% increase has resulted in a boost of over N$808 million in shareholder value in just one week. Foreign shareholders gained N$ 453 million, the van Rooyen family N$ 310 million, while Trustco staff and other local shareholders are N$ 45 million richer. The deal aims to fast-track diamond production at the underground Meya mine.<\/p>\n

\u201cThis momentous rally in Trustco\u2019s share price shows investors recognise the immense value unlocked by our strategic investment in Meya Mining,\u201d said Quinton Zandre\u0301 van Rooyen, Deputy CEO of Trustco Group Holdings. \u201cWhile reaching 140 cents per share shows market confidence, Trustco remains undervalued relative to our published Net Asset Value per share of 161 cents. With Meya rapidly scaling up high-margin diamond production, Trustco is poised to continue creating significant shareholder wealth as the market realizes the full extent of our upside potential,\u201d he continued.<\/p>\n

Meya holds a large-scale mining license spanning 129 km2 in Sierra Leone\u2019s prolific eastern diamond fields with an estimated resource of 7 million carats with a more than US$300 per carat price. The capital will facilitate key enhancements like a new NIR waste sorter and expand plant capacity.<\/p>\n

Analysts at investment management company, Covest Wealth 3.0, state that the deal provides cash flow for increased output while retaining upside potential through Trustco\u2019s 19.5% stake in Meya. With first production achieved this month, the mine is set for sustainable high-margin diamond production, a solid investment for the company.<\/p>\n

The rally in Trustco shares is indicative of investors\u2019 optimism, being that the company will actualise significant value from its early-stage Meya investment. The robust investor response, with resultant share price spike, not only reflects confidence in the mine\u2019s long-term potential but also the group\u2019s diverse investments portfolio.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Trustco Group Holdings\u2018 shares have rallied over 140% in the past week after the company announced a $75 million coinvestment in its Meya diamond mining project in Sierra Leone. Trading at 58c per share prior to the July 27 announcement, Trustco\u2019s stock closed at 140c yesterday as investors cheered the transformative investment. […]<\/p>\n","protected":false},"author":84,"featured_media":50534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-50535","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nTrustco Shares Rally 140% on $75M Diamond Mine Coinvestment - Namibia<\/title>\n<meta name=\"description\" content=\"Trustco Group Holdings\u2018 shares have rallied over 140% in the past week after the company announced a $75 million coinves ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-shares-rally-140-on-75m-diamond-mine-coinvestment\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trustco Shares Rally 140% on $75M Diamond Mine Coinvestment\" \/>\n<meta property=\"og:description\" content=\"Trustco Group Holdings\u2018 shares have rallied over 140% in the past week after the company announced a $75 million coinves ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-shares-rally-140-on-75m-diamond-mine-coinvestment\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-04T11:36:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-04T11:48:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/08\/64cce53b9c14e-64cce53b9c150sm_1691137022.064736.jpg.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"661\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-shares-rally-140-on-75m-diamond-mine-coinvestment#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-shares-rally-140-on-75m-diamond-mine-coinvestment\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Trustco Shares Rally 140% on $75M Diamond Mine Coinvestment\",\"datePublished\":\"2023-08-04T11:36:25+00:00\",\"dateModified\":\"2023-08-04T11:48:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-shares-rally-140-on-75m-diamond-mine-coinvestment\"},\"wordCount\":353,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-shares-rally-140-on-75m-diamond-mine-coinvestment#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/08\/64cce53b9c14e-64cce53b9c150sm_1691137022.064736.jpg.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-shares-rally-140-on-75m-diamond-mine-coinvestment#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-shares-rally-140-on-75m-diamond-mine-coinvestment\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-shares-rally-140-on-75m-diamond-mine-coinvestment\",\"name\":\"Trustco Shares Rally 140% on $75M Diamond Mine Coinvestment - 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