Paragon Diamonds was incorporated on 27 April 2010 under Guernsey law and subsequently listed on AIM in November 2010 with the ticker PRG. In May 2011 it completed the acquisition of International Diamond Consultants, a privately owned group of companies which held a prospecting licence over the Lemphane Kimberlite project in Lesotho. The subsequent exploration programme resulted in the award of a mining lease for the Lemphane Kimberlite in March 2014. In May 2015 the Company signed an MOU to acquire the neighbouring Mothae kimberlite project, which has an established Resource to NI 43-101 standards.