Diamonds Dazzle Brighter With Lucara And Motapa Merger
It’s hot news on the diamond scene. They have done a joint venture operation together on a project and now they are joining hands with a common focus on Africa. Lucara belongs to the Lundin group of companies and it is in the process of growing larger and playing a greater role on Africa’s diamond scene by getting involved in more projects. Motapa owns the diamond project in Lesotho, South Africa named Mothae and this will be a very important asset for the new company.
What acquiring Motapa will result in is a stronger and more aggressive company that can formulate and put into practice more expansion plans than they could have done individually. The shareholders that Motapa has right now will own 35% of the new company. The plans concerning the merger were announced a few days ago.
The shares of both the companies – Lucara and Motapa - traded at the Toronto Stock Exchange unchanged at 50 cents and 31 cents respectively.
