Paragon’s hopes sparkle with Lesotho gem deal
Investors in tightly-held Paragon Diamonds (PRG) have reacted favourably to its agreement with the southern African kingdom of Lesotho to mine the Lemphane kimberlite pipe. This is a project which the company suggests could eventually generate 65,000 carats a year in its second stage with a projected average value of $1,500 (£900) per carat, implying gross annual revenues of $97.5 million (£57 million); not bad for a business with an £8.7million market cap.


