Pangolin signs for 3 diamond projects
A total of thirty two of +0.425 mm -4.0 mm diamonds recovered Pangolin Diamonds has reached an agreement with Umgeni Holdings International Limited under which Umgeni has agreed to acquire a royalty interest in Pangolin’s Precious Stones Prospecting Licences located within the Central District of Botswana, as well as an area defined as the Adjacent Area of Interest for $600K. Under the terms of the agreement, Umgeni has agreed to pay Pangolin an additional $600K, for a total of $1,200K in funding to date, to acquire the following royalty interests in Pangolin’s Malatswae, Moenyenana and Motloutse diamond projects. Dr. Jennings stated, “the primary reasons for my additional royalty purchase is because I believe Dr. Daniels knows more about Botswana’s kimberlite geology than anyone else in the world, and I strongly believe Pangolin is on the right track to discover a new and significant kimberlite field southeast of the Orapa Kimberlite Field at their Malatswae ...