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Last 5.80 GBp
Change Today +0.075 / 1.31%
Volume 1.1M
As of 10:38 AM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

paragon diamonds ltd (PRG) Snapshot

5.65 GBp
Previous Close
5.73 GBp
Day High
5.80 GBp
Day Low
5.65 GBp
52 Week High
05/6/15 - 6.75 GBp
52 Week Low
10/20/14 - 2.80 GBp
Market Cap
Average Volume 10 Days
-0.0060 GBp
Shares Outstanding
Dividend Yield
Current Stock Chart for PARAGON DIAMONDS LTD (PRG)

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paragon diamonds ltd (PRG) Details

Paragon Diamonds Limited, together with its subsidiaries, engages in the mining, exploration, and development of mineral properties in Africa. The company primarily explores for diamonds. It focuses on diamondiferous kimberlite projects that include the Lemphane project covering an area of 6 hectares; the Motete project comprising 23 km2; and the Motete Plateau project covering an area of 74 km2 located in the Kingdom of Lesotho. The company also holds interests in properties located in Zambia, Botswana, and Tanzania. In addition, it is involved in the acquisition of mineral resource licenses; and investment in other mineral exploration and development companies. The company was incorporated in 2010 and is based in St. Peter Port, the Channel Islands.

21 Employees
Last Reported Date: 05/24/14
Founded in 2010

paragon diamonds ltd (PRG) Top Compensated Officers

Managing Director and Director
Total Annual Compensation: 110.0K GBP
Chief Financial Officer, Finance Director and...
Total Annual Compensation: 88.0K GBP
Compensation as of Fiscal Year 2013.

paragon diamonds ltd (PRG) Key Developments

Paragon Diamonds Limited Announces MOU to Acquire Mothae Kimberlite Diamond Project in Lesotho from Lucara

Paragon Diamonds Limited announced that it has signed a memorandum of understanding with Lucara Diamond Corporation to acquire a 75% interest in and operate the defined Mothae Kimberlite Resource, which is located only 5 km from the world class Leteng le Terai diamond mine in Lesotho. The acquisition is subject to approval from the Government of Lesotho, a binding share purchase agreement, contracted albeit agreed funding and certain other regulatory approvals. Mothae represents a low cost opportunity for Paragon to generate significant value for shareholders through the recovery of additional large high value diamonds in tandem with the commencement of Stage 1 production at Paragon's nearby Lemphane Kimberlite Pipe Project ('Lemphane'). As a result of this exciting acquisition, the company believes that it is wholly appropriate to ensure that both Lemphane and Mothae are constructed simultaneously and thus at the lowest possible cost to benefit from economies of scale whilst adjusting the timescale for commencement of production of the enlarged asset portfolio to third quarter of 2015. It is envisaged that the plant will have a capacity of at least 250 tph (1.75 Mt/yr) capable of producing 35,000+ carats per annum at a revenue exceeding USD 55 million on current projections. The mine plan will be premised on the immediate commencement of operations using existing facilities (subject to the time constraints to re-furbish/upgrade the present plant) and the implementation of full production at the earliest opportunity, subject to the design, construction and commissioning of the new process plant, and a subsequent mine life exceeding 10 years. The company has signed an MOU which grants the company exclusivity until 30 September 2015 to acquire a 75% interest in the share capital of Mothae Diamonds Pty Ltd. a company incorporated in Lesotho, from Lucara Diamond Corp, the remaining 25% will still be held by the Government of Lesotho. The consideration is USD 8.5 million and is to be satisfied by way of additional debt funding which is to be procured from ITGT, the terms of which have been agreed, subject to contract. A break fee of USD 250,000 is payable if the company terminates the MOU or fails through its fault to complete the transaction by 30 September 2015.

Paragon Diamonds Limited Announces the Finalisation of the Design and Order Plans for Processing Plant for its Meso Diamonds' Lemphane Kimberlite Mine

Paragon Diamonds Limited announced the finalisation of the design and order plans for a processing plant for its 80% owned Meso Diamonds' Lemphane kimberlite mine, which is located among a cluster of kimberlites known for producing large, high value diamonds. The plant's modular design and use of the latest X-Ray Transmission(XRT) diamond recovery technology will reduce both capital and operating costs at Lemphane, improve diamond recovery, and as a result significantly enhance the Project's economics. This update is in line with the Company's objective to commence Stage I production at Lemphane in the first quarter of 2015, which will involve the extraction of 1 million tonnes of kimberlite over a two year period. Finalisation of design and order plans for USD 6 million 75tonne per hour (0.5Mt/yr) processing plant follows a comprehensive analysis of various plant options and evaluation of technologies successfully used by other key industry players previously.

Paragon Diamonds Limited, Annual General Meeting, Dec 09, 2014

Paragon Diamonds Limited, Annual General Meeting, Dec 09, 2014., at 11:00 GMT Standard Time. Location: Dixcart House, Sir William Place. Agenda: To discuss the proposed buyback and cancellation of 63,000,000 ordinary shares from Lanstead Capital L.P.


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