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BlueRock Approves Acquisition of Diamond Resources
Feb 1, 2016 9:25 AM
By Rapaport News
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RAPAPORT... U.K.-listed BlueRock Diamonds has approved the purchase of
Diamond Resources from Tawana Resources. Diamond Resources is a non-trading
company which holds the ‘rehabilitation guarantee’ required in relation to the
Kareevlei in South Africa, which BlueRock acquired
from the same seller in 2013.
BlueRock, which is
quoted on the Alternative Investment Market of the London Stock Exchange, also
purchased an intercompany loan of $1.3 million (ZAR 21.5 million) owed by
Diamond Resources to Tawana which is expected to be eliminated on consolidation
in the company's accounts, according to a statement January 26.
BlueRock paid $43,556 for the shares in Diamond Resources and
the loan, the statement said.
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Tags:
BlueRock Diamonds, Diamond Resources, exploration, Kareevlei, M&A, mergers and acquisitions, mining, Rapaport News, South Africa, Tawana Resources
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