Paragon enters into a legal agreement to buy Mothae Kimberlite

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 Paragon enters into a legal agreement to buy Mothae KimberliteParagon Diamonds Limited, the AIM quoted diamond development company announced it has entered into a legally binding share purchase agreement with Lucara Diamond Corporation to acquire the Mothae Kimberlite Resource. This development follows an announcement made towards the same on 5 May 2015.

Although, the acquisition remains subject to approval from the Government of Lesotho and completion of funding, as previously announced. Paragon’s Managing Director Dr Stephen Grimmer, who is based in Lesotho, has provided extensive details of the Company’s ability to fund the long term development of the Mothae mine to the Minister and the Company is now awaiting formal Government approval for the Acquisition. Further announcements regarding the Acquisition will be made at that time.

Paragon Diamonds, in addition to the current acquisition, has a project in Lesotho, the Lemphane Kimberlite Pipe Project, located close to the Letšeng mine. Mothae is located close to Paragon’s nearby Lemphane Kimberlite Pipe Project.



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