Paragon Diamonds Acquires Prospecting Licenses in Botswana

Mining Weekly reported that Paragon Diamonds (LON:PRG) entered into a memorandum of understanding with a private company in Botswana to obtain several prospecting licenses to explore the country’s diamond terrains.

As quoted in the market news:

The PLs cover 1 686 km² over several known kimberlites, including one in the Orapa kimberlite field and their acquisition would enable the company to quickly accelerate its exploration presence in the Southern African country.

The licences, which were issued in July 2011, are valid until June 2014 and can be extended for a further four years subject to certain conditions.

Click here to read the full Mining Weekly report.