Lucapa Diamond Company Ltd (ASX:LOM) explores for diamonds at the Lulo Concession in Angola.
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Lucapa Diamond Company advancing Mothae acquisition
Lucapa Diamond Company (ASX:LOM) is in the process of advancing the acquisition of an interest in the advanced Mothae Kimberlite Diamond Project in the African country of Lesotho.
Lucapa signed an agreement with the Government of the Kingdom of Lesotho to acquire a 70% interest in Mothae Diamonds (Pty) Limited (MDL), which holds the mining licence and other assets related to Mothae.
Most recently, Lucapa has been registered as a 70% shareholder in MDL and has appointed its representatives to the board of MDL.
These actions follow the issuance to MDL of a new 10-year mining licence for Mothae.
With these conditions precedent met, Lucapa has paid the first US$400,000 payment to the Government of the Kingdom of Lesotho for its 70% interest in MDL.
Lucapa has engaged independent consultants to convert the Canadian NI43-101 Mothae diamond resource to JORC 2012 compliant standards.
This work is expected to be completed shortly.