30. Subsequent events Subsequent to balance date, the Company has issued 1,956,111 convertible notes for $1,956,111, on the same terms and conditions set out in note 16 and 18; issued 152,393,012 quoted options (MED OB) as result of the issue of the convertible notes; issued 368,455,010 shares as a result of the conversion of convertible notes. The Company has also purchased a Tomra XRT machine at a cost of $950,000 for use in diamond processing at the Merlin diamond mine and has sold a portion of its diamond stock. Other than this matter and the matters disclosed elsewhere in the financial statements or outlined below, no matters or circumstance have arisen since 30 June 2017 that have a significant effect on the Company.
I interpret this as - they have sold some of the diamonds @ the tender in Antwerp and are probably still to sell the rest.
This sale will be a small transaction in the whole scheme of things. With the new XRT soon to be processing, I am expecting some bigger, more valuable finds to come in the next few months.
