Lucara to sell stake in Lesotho mine

Wednesday, May 06, 2015

Aim-listed precious gem explorer Paragon Diamonds will buy Botswana-focused Lurara Diamond Corp’s Mothae diamond project, in Lesotho, for $8.5-million in cash.

The two companies on Monday announced that they had entered into a memorandum of understanding that would see Lucara sell, subject to Lesotho-government approval, its 75% stake in the exploration project.

Lucara, which was listed on the TSX and the Botswana Stock Exchange, in December announced that it would sell its Mothae project, in Lesotho, where the company had completed a trial mining programme.

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Lucara to sell stake in Lesotho mine

Aim-listed precious gem explorer Paragon Diamonds will buy Botswana-focused Lurara Diamond Corp’s Mothae diamond project, in Lesotho, for $8.5-million in cash.

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