Blumont

Blumont: to invest A$1.95m for a 10.9% stake in Australia-listed diamond miner Merlin Diamonds. Blumont will subscribe for 26m shares in Merlin at A$0.075 each, vs the latter’s last close at A$0.081. Merlin will use the proceeds to develop the Merlin Diamonds Mine Project, a diamond mining project located in Australia’s Northern Territory. Blumont says the project is the second largest combined diamond resource and reserve in Australia, with combined mineral resource and ore reserve of 30.1m tonns representing a total of 7.2m carats.