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NAMAKWA DIAMONDS LIMITED
NAMAKWA DIAMONDS LIMITED
For more than 5 years, Finfive was closely involved with Namakwa Diamonds. We started out as consultants to the pre-IPO capital raising in lieu of the main board listing in 2007, gearing the company for compliance to IFRS, and the London Stock Exchange. Subsequently to the successful involvement in the listing, FinFive was tasked to implement internal and external reporting frameworks throughout the larger post-acquisition group, this included placing of key individuals in key roles throughout the finance team of the group.

On a corporate level Finfive served on Exco as the financial advisory and corporate finance member of the business development and strategy team, on all prospective projects and 3 successful subsequent capital raisings. These included the Due diligence reports, the financial modeling contained in the Working Capital Adequacy Reports (LSE term for Fair and Reasonable Statement), Competent Persons Reports, Pre Scoping, Scoping and Pre- Feasibility studies of the group. FinFive held the pen on group valuation models. FinFive was also responsible for the forecasting and budgeting function on group level.

FinFive's contribution to the successful acquisition of the Lesotho Kimberlite Storm Mountain Diamonds (4th largest undeveloped Kimberlite in Southern Africa) lead to FinFive being appointed to the board of Storm Mountain Diamonds as financial director and financial project manager on the planning, design, erection and construction of the 500tph plant within 8 months to commissioning, again implementing the full financial reporting framework and setting up of the local finance team. In addition FinFive was appointed as director on the Lesotho public investment vehicle set up to facilitate the first public offer in the history of the Kingdom of Lesotho. FinFive advised the Lesotho vehicle on the public offer process as well as with the day-to-day business.

FinFive facilitated the evaluation and negotiation of prospective BEE transactions as well as the reorganizing of the South African group.

On an operational level FinFive is responsible for the day to day financial management of Storm Mountain Diamonds. From performance management reporting, reporting in terms of International Financial Reporting Standards to legal compliance in terms of the mining lease and local tax and companies act legislation.

FinFive was responsible for the re-design and implementation of the budgeting and financial reporting structure, and the implementation of Sage x3 ERP information system throughout the group, with Datacentrix Ltd.

FinFive prepared all group company annual financial statements in accordance with IFRS.

FinFive served as a key member of top management on all levels of the group.
 
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