Latest News

Wednesday - Sep 19, 2012 7:00
Chairman’s statement

I am pleased to present the interim financial statements for Paragon Diamonds Limited (the “Company” or the “Group”) for the six month period to 30 June 2012 and report on the developments of the Group during what has been an exciting period. The Group has focussed on continuing the bulk sampling programme at its flagship Lemphane Kimberlite in Lesotho whilst simultaneously conducting a rapid exploration programme at its newly awarded Motete Dyke Licence in close proximity to Lemphane.   Read more...
Tuesday - Sep 4, 2012 7:00
• 3rd bulk sample treated - 214 tonnes processed and 130 carats recovered
• Overall recovered grade of 55 cpht for the Motete Dyke
• Drilling programme complete – 1,109 metres drilled, kimberlite intersected 13 times
• Diamonds scheduled for independent valuation
  Read more...
Tuesday - Aug 28, 2012 7:00
• MOU signed with Lesotho partner Matekane Group of Companies (“MGC”) to provide up to US$10m of project financing, which is sufficient to bring the Motete Dyke project into full production
• Repayment of loan and interest from free cash flows once Paragon’s initial costs have been recovered
• Ongoing interest rate at 2% above USD LIBOR for term of loan
• Financing fee of US$1 million accrued and repaid out of cash flow
  Read more...
Tuesday - Jul 24, 2012 7:00
• A second Motete Dyke 200 t bulk sample processed and 97 carats recovered
• Recovered grade of 56 carats per hundred tonnes in line with previous results
• Recovered grade excludes smaller stones due to plant limitations
• Two further drill intersections of kimberlite at 200 m below surface
• Scoping study commenced – application for a mining licence in preparation
  Read more...
Monday - Jul 9, 2012 12:33
Paragon Diamonds Limited announces that all resolutions to put to shareholders at its Annual General Meeting, held today, were duly passed.
  Read more...
Wednesday - Jul 4, 2012 9:03
Highlights

• 360 tonnes processed from a total of 1,600 tonnes extracted from the Motete Dyke
• Results in line with previously announced modelled grade of 90 cpht
• All diamonds recovered of very high quality
• Drilling underway, 1.25 m wide kimberlite dyke intersected at 200 m vertical depth
• Drilling results so far in line with in house estimate of c. 1.1 Mt
• Paradigm Project Management commissioned to undertake scoping study   Read more...
Friday - Jun 8, 2012 10:49
Notification of major interest in shares   Read more...
Thursday - Jun 7, 2012 14:59
Paragon Diamonds Limited, the AIM quoted African focused diamond development and production company, was informed today that Simon Retter, a Director of the Company, purchased 94,341 ordinary shares in the Company on 6 June 2012 at an average price of 21.2 pence per share. Following this transaction Simon Retter holds 217,258 ordinary shares representing 0.1% of the issued share capital of the Company.

In addition Simon Retter holds options over 525,000 ordinary shares in the Company at an average exercise price of 34 pence per share.
  Read more...
Wednesday - Jun 6, 2012 11:16
• One year extension of Lemphane exploration licence awarded
• Will provide sufficient time for Paragon to continue its exploration programme

Paragon Diamonds, the African-focussed diamond explorer and developer, is pleased to announce that it has been granted a one year extension to its key Lemphane kimberlite exploration licence which covers 6.33 km2 in Lesotho. The licence is owed by the Group’s 85% controlled subsidiary Meso Diamonds and will now expire in June 2013.
  Read more...
Friday - Jun 1, 2012 7:00
• The Company’s focus is to fast track the Lesotho projects into production and for Paragon to become a producing diamonds company in the near future
• 2012 is set to be an important year for the development of projects in Lesotho with all resources now fully focused on bringing them into production
  Read more...
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