UK 23:24 Wednesday, 23 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
You just could not make this up. Out of cash, out of a Nomad and now it seems out of vendors AIM-listed Paragon Diamonds (PRG) has announced (last night - after hours, natch) that the deal to buy the Mothae diamond project has hit a bit of a snag because the vendor has pulled out. But not to worry, they're off to negotiate directly with the government of Lesotho. What with? Fresh air?
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Comments
Steve Sutton
And to think a number of folks dumped stock in a sound and stable company like Obtala Resources (OBT) to follow the Paragon Diamond dream.
Some poor souls believed the spin put out by Paragon Diamonds on the supposed blue sky mines and the assumed ‘in the bag’ funding packages.
Some were critical of Frank Scoloro for selling Obtala’s 70m+ shares in Paragon (to Paragon themselves!) but he clearly knew what he was doing. Credit where credit is due and all that.
What does this do to Mr Manduca’s reputation, assuming that is, Paragon is yet another AIM casulty?
What a mess.