4 Aug 2015 12:40
PARAGON DIAMONDS LTD - Result of AGMPARAGON DIAMONDS LTD - Result of AGM
PR Newswire
London, August 4
Paragon Diamonds Limited / Index: AIM / Epic: PRG / Sector: Resources
4 August 2015
Paragon Diamonds Limited (‘Paragon’ or the ‘Company’)
Result of AGM
Paragon Diamonds Limited, the AIM quoted diamond development company, is pleased to announce that all resolutions were duly passed at the Company's Annual General Meeting held earlier today.
**ENDS**
For further information please visit www.paragondiamonds.com or contact:
| Philip Falzon Sant Manduca | Paragon Diamonds Limited | +44 (0) 20 7182 1920 |
| Simon Retter | Paragon Diamonds Limited | +44 (0) 20 7182 1920 |
| David HignellGerry Beaney | Northland Capital Partners Limited (Nominated Adviser) | +44 (0) 20 7382 1100 |
| John HowesMark Treharne | Northland Capital Partners Limited (Sales and broking) | +44 (0) 20 7382 1100 |
| Felicity Winkles | St Brides Partners Limited | +44 (0) 20 7236 1177 |
| Frank Buhagiar | St Brides Partners Limited | +44 (0) 20 7236 1177 |
Notes
Paragon Diamonds has an 80% interest in the Lemphane Kimberlite Pipe project in Lesotho, located close to the world class Letšeng mine, Lesotho’s largest diamond mine. Lemphane is the last known kimberlite to be developed in Lesotho. The first of a two stage production programme is expected to commence in 2015 which will further define the resource at Lemphane. As increased tonnages of kimberlite are processed the proportion of larger diamonds recovered will improve, increasing the average value of diamonds recovered at the project, as was the case at Letšeng. In addition to Lemphane, Paragon Diamonds has signed a Memorandum of Understanding with Lucara Diamond Corporation, a TSX quoted mining company, to acquire a 75% interest in and operate the defined Mothae Kimberlite Resource, which is located only 5 km from the world class Let?eng le Terai diamond mine in Lesotho.