God News for the Diamond Resources

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BlueRock Diamonds has approved the possession of the Diamond Resources from the Tawana Resources. A non-trading company, Diamond Resources owns the ‘rehabilitation guarantee’ that is obligatory concerning the Kareevlei project of BlueRock Diamonds based in South Africa.

BlueRock Diamonds (BRD) that is listed on the FTSE AIM has confirmed the acquisition of the Diamond Resources from the (ASX: TAW) an iron ore centered ASX and JSE-listed company Tawana Resources. Diamond Resources, a non-trading firm holds the ‘rehabilitation guarantee’ a must-have thing, needed in relation to the Kareevlei diamond mine located in the South Africa. Further, this diamond mine Kareevlei has been bought by the BlueRock from the same seller in the year 2013. As per the statement cited on January 26, BlueRock that is quoted on the Alternative Investment Market (AIM) of the Stock Exchange, London Stock Exchange (LSE) located in the City of London also procure an intercompany loan of $1.3 million owned by Diamond Resources from Tawana. Further, it is expected to get the intercompany adjustments in order to eliminate the liability in the intercompany transactions while preparing the consolidated financial statements. The statement too reads that BlueRock Diamonds has paid $43,556 for the loan and the shares in Diamond Resources.

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BlueRock DiamondsexplorationKareevleiM&ADiamond Resourcesmergers and acquisitionsminingSouth AfricaPurchaseTawana Resources

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