Paragon Diamonds Announces 2012 Year-end Results

Paragon Diamonds Ltd. (LSE:PRG) announced its unaudited preliminary results for the year ended December 31, 2012, commenting that it achieved a number of key objectives, including the establishment of a 1-million-carat resource at its Motete Dyke project.

According to the press release, other results highlights include:

• the resumption  of bulk sample processing at the Lemphane Kimberlite project;
  
• initiation of delineation drilling on Lemphane;
• individual stone valuations over $2,300 per carat from a 112 carat parcel from Lemphane;
• installation  and commissioning of a steady water supply at Lemphane;
• submission of a Mining Licence Application for Lemphane; and
• disposal of the West African alluvial assets to focus Company resources on southern African projects, particularly in Lesotho.

Click here to read the full Paragon Diamonds Ltd. (LSE:PRG) press release.