The chairman of Paragon Diamonds, Francesco 'Frank' Scolaro, has tightened his grip on the African gemstone group with the purchase of nearly £400,000 in shares.
His Grandinex International Corporation took 1.29m shares at 30.47p a share taking Scolaro's total holding to about 123.4m shares, which is about 86.5% of the company.
Paragon entered AIM in November. The shares were given a boost last week by news that Tamarisk Investments the Zambian subsidiary of International Diamond Consultants, in which Paragon holds a 44.3% interest, has been granted an exploration licence covering 862km2 in Eastern Zambia.
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"The award of the KapLamp licence will add to our growing asset base and has provided Paragon with prospective opportunities given the established presence of recovered diamonds in a previously little understood structure type," Scolaro said after the announcement.
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"IDC is now prioritising targets within the licence area for further exploration utilising modern, exploration techniques."
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Paragon Diamonds (PRG) Director name: Mr Francesco (Frank) ScolaroAmount purchased: 1,290,000 @ 30.47p Value: £393,063
Melrose Resources (MRS) Director name: Mr Robert F M AdairAmount purchased: 40,000 @ 230.00p Value: £92,000
Melrose Resources (MRS) Director name: Mr Robert F M AdairAmount purchased: 22,000 @ 233.00p Value: £51,260
Redstone (RED) Director name: Mr Richard Alexander McGregor RamsayAmount purchased: 3,481,200 @ 1.42p Value: £49,433
Cenkos Securities (CNKS) Director name: Mr David HendersonAmount purchased: 30,000 @ 108.00p Value: £32,400
YouGov (YOU) Director name: Mr Peter BazalgetteAmount purchased: 63,031 @ 47.00p Value: £29,625
