Lemphane - Lesotho (80% owned)
Development Stage
Paragon is on schedule to commence Stage 1 production at the 6 ha Lemphane Kimberlite project in the Kingdom of Lesotho in early 2015. Lemphane is the last of five known diamondiferous kimberlite pipes within the region which has not undergone any historic mining activity and Paragon’s application of modern exploration techniques has already yielded positive results. Located in one of the most prolific diamond producing regions in the world, Lemphane sits close to the world-famous Letšeng diamond mine.
Mothae - Lesotho
Paragon has recently signed an MOU to acquire the Mothae project also in Lesotho. Paragon Diamonds has identified an optimum operating strategy for the Mothae kimberlite, which involves establishing and maintaining robust project economics. Operations will thus commence, and concentrate on the circa 4.5 hectare southern lobe of the kimberlite, which hosts a minimum of 20Mt kimberlite to a depth of circa 200m, at grades of between 2.5-4.6cpht and US$737-US$1,364/ct. In-house estimates place the net present value of Mothae at $115M using the reduced scale mine plan envisaged by Paragon. Paragon expects to bring Mothae into production imminently as soon as the relevant governmental approvals have been obtained for the acquisition.