Key Africa projects to deliver results by third quarter − Paragon

Aim-listed Paragon Diamonds, which has agreed to increase its stake in International Diamond Consultants (IDC) to 98,5%, expects the Lemphane project, in Lesotho, and the Kaplamp project, in Zambia, to deliver meaningful results by the third...

Paragon posts loss, CEO sees ongoing recovery of diamond market

Aim-listed Paragon Diamonds recorded £349 000 in revenue, representing one sale of select rough diamonds, for the year ended December. The Africa-focused miner with operations in Sierra Leone, Lesotho and Zambia on Friday reported a loss after...

Obtala buys stake in Limpopo iron-ore project

Aim-listed Obtala Resources has acquired a 50% interest in sub-Saharan Africa-focused mining group Bushveld Resources, which owns interests in iron-ore projects in South Africa. The resources company, which acquired the Bushveld Resources stake...

Obtala buys stake in SA tin project, output to start next year

Aim-listed Obtala Resources has agreed a deal which will see the company acquiring a 37% stake in a South African tin project, which would start production in the first half of 2012. Obtala announced on Wednesday that it would buy a 50% interest...

Paragon Diamonds raises £2,8m

Aim-listed Paragon Diamonds has raised £2,8-million by issuing 8,5-million shares at a price of 34p each. The Africa-focused diamond company on Thursday reported that the new shares would rank pari passu with all existing ordinary shares.

Paragon subsidiary awarded Zambia exploration licence

Aim-listed Paragon Diamonds on Thursday announced that its subsidiary Tamarisk Investments had been awarded a diamond exploration licence in Zambia. The licence in the east of the country, covers 862 km2 and contains 14 olivine lamproite pipes.

Tanzania short-lists bidders for Lake Victoria mine redevelopment

Exploration and development company Obtala Resources announced on Tuesday that it was among three bidders shortlisted for the Buckreef gold-mine redevelopment project in the Lake Victoria goldfields, of northern Tanzania. The identities of the...

Obtala to list diamond assets in new company on Aim

Aim-listed Obtala Resources is spinning off its diamond assets into a new subsidiary company, Paragon Diamonds, which would be separately listed on the Aim market of the London Stock Exchange. Paragon would acquire all shares of Obtala subsidiary...

Obtala sees lithium market growing, buys Argentina projects

As demand for lithium grows, Aim-listed Obtala Resources has committed to investing $1,6-million to acquire a controlling stake in a company that holds two lithium exploration projects, in Argentina. Obtala on Monday reported that it had acquired...

Obtala earns $744 270 in Sierra Leone diamond sale

Diamond junior Obtala Resources has earned $744 270 from its first rough diamond sale in Sierra Leone. The Aim-listed company on Monday reported that it had sold a parcel of 2 480 ct of ‘special’ stones, gem quality stones and industrial...

Diamond junior Obtala to scale up operations in Tanzania

Aim-listed Obtala Resources was expecting the main and the mobile dense-media separation (DMS) plants at its Sierra Leone operations to rapidly build up production from September onwards. This should result in diamond revenues being generated in...

Firestone Diamonds unveils Kopane acquisition details

Aim-listed Firestone Diamonds said on Wednesday that it had agreed terms for the acquisition of junior diamond-miner Kopane through a scheme arrangement. The purpose of the scheme was to allow Firestone to become the owner of the entire issued...