Paragon Diamonds Mining News

Lucapa adds Motahe project in Lesotho to portfolio, shares jump

The project, which has existing infrastructure, a camp and a diamond processing plant in place, is located just 5km from Letšeng, the highest dollars-per-carat kimberlite diamond mine in the world.

Paragon Diamonds halts trading on capital, financial position woes

The Africa-focused miner needs funding to complete the acquisition of the Mothae project and to repay short-term debts, including £500,000 due this week.

Paragon Diamonds shines bright on better-than-expected results for Mothae

Shares in the Africa-focused diamond miner climbed almost 6% after it revealed the Mothae kimberlite project in Lesotho may be more profitable than previously assumed.

Lucara gets $69 million from first diamond sale, amid tough market conditions

The star of the show was a 341.9 carat diamond —unveiled in April —, which sold for $20.55 million

Paragon Diamonds sees at least $160m in revenue from Lesotho mines

The miner, which does not yet generates any income, expects to kick-off production at its Lemphane and Mothae mines later this year.

Lucara sells stake in African diamond project to Paragon for $8.5m

Developing Mothae and Lemphane concurrently would allow Paragon to benefit from significant economies of scale, said Paragon Diamonds.

Paragon Diamonds interest in Lemphane increased to 100%

Paragon will now hold 80% of the equity in the project, together with the Government of Lesotho holding 20%.