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Epic PDF
Time: 09:37:31
Mid Price: 1.10
Change Today: -0.05 Descending
Change % Today: -4.35 Descending
Fifty Two Week High: 2.65
Fifty Two Week Low: 0.93
Market Capital: 19.62
Period & price data
Period Price
Now: 1.10
3 Months ago:
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: AIM
Sector: General Mining - Diamonds & Gemstones
Epic: PDF
News: Latest news
Web Site: Pangea Diamondfields
Other Articles: 23-01-200912-12-200820-11-2008

Pangea Diamondfields

Pangea DiamondFields PLC is an emerging mid-tier diamond producer and exploration company with a current portfolio of eight diamond projects, including 25 distinct resource target areas. These projects are located in four African countries, namely the Central African Republic (CAR), Democratic Republic of the Congo (DRC), South Africa and Angola.
Friday, January 23, 2009

Pangea DiamondFields repays loan to Panex, gets option extension for SAfrica ops

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Pangea DiamondFields PLC said it has repaid in full its obligations relating to a loan of US$2 million with Pangea Exploration (Proprietary) Ltd (Panex) and in turn has received an extension of the option agreement over its South African assets.

The loan was provided to Pangea Diamonds (Pty) Ltd (PDL), the holding company for Pangea's interests in its South African projects including Bakerville and Harts River. Pangea has a 74 percent interest in PDL through its wholly owned subsidiary, Efidium Ltd. The remaining 26 percent interest is held by Panex.

PDF has used some of the proceeds of the successful open offer announced in December 2008 to settle in full the outstanding loan obligations it had with Panex.  

In addition to its existing interest in PDL, Efidium held an option, which was due to expire on March 31 2009, to acquire the remaining interest in PDL from Panex for US$2.175 million. Upon repayment in full of the loan, Panex has granted a new option to Efidium, expiring on June 30 2010, to acquire the remaining 26 percent interest in PDL from Panex for US$2.5 million.

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