Promoters of the mine, Firestone Diamonds this week announced that they have entered into a conditional option agreement for the potential disposal of its Botswana operations, which include its interest in the BK11 mine, to Amulet Diamond Corporation for a total potential consideration of $5.1 million (P51 million) in cash.
Led by former De Beers chief executive officer, Gareth Penny and local diamond company Diacore, a consortium of private investors are eyeing Firestone’s assets in Botswana. “Pursuant to the agreement, Amulet, a Canadian special purpose vehicle formed for the purpose of the disposal by a group of private investors led by Gareth Penny and Diacore Diamond Group, a multinational diamond company with diversified interests in the diamond industry, will acquire an option, effective from June 01, 2017 for a period of up to 14 months to acquire Firestone’s wholly owned subsidiary Firestone Diamonds and its 90% interest in Monak Ventures, which hold Firestone’s interests in Botswana, for a total consideration of $5.1 million in cash.
