Entrepreneurial financier Andrew Regan, chief executive of investment group Corvus Capital, is lining up a new company, South African-based DiamondTech, for an AIM float this month. DiamondTech boasts a new process using laser technology to extract gems from gravel and tailings, which could have profitable applications in the diamond mining industry.

Advisers suggest DiamondTech will seek to raise ‘a few million pounds’ when it comes to market. Meanwhile, Regan, who has done much in recent years to shake off the impression left by past controversies, is also busy with other projects.

Corvus, which claims £38.5 million of unrealised capital gains for the 18 months to last September, has 20 per cent of AIM-quoted Commoditrade, now strong at 43p on the back of £13.4 million annual profits and continuing talks with potential bidders.