Key points
- The TSX Venture Exchange gave final approval for Diamond Fields Resources’ acquisition of Moydow Holdings Ltd.
- Philip Murphy, Norman (Rod) Baker and Francois Colette resigned as directors, replaced by Brian Kiernan, Carlo Baravalle and Len Comerford, with Kiernan named chairman.
- Issued share capital is 178,940,221 common shares, with Jean Raymond Boulle’s Spirit Resources SARL holding 39.7 per cent and Kiernan holding 37.1 per cent.
- Following the Moydow acquisition, Diamond Fields holds the Labola gold project in Burkina Faso, a zircon prospect in Madagascar and offshore diamond mining licences in Namibia.
Diamond Fields Resources Inc. has received final approval from the TSX Venture Exchange for its acquisition of Moydow Holdings Ltd.
Further to the company’s press release dated June 29, 2022, Philip Murphy, Norman (Rod) Baker and Francois Colette have resigned as directors of the company in favour of the appointments of Brian Kiernan, Carlo Baravalle and Len Comerford as directors. Mr. Kiernan has been appointed chairman of the board of directors. The current issued share capital of the company is 178,940,221 common shares. Jean Raymond Boulle, through Spirit Resources SARL, owns a 39.7-per-cent interest in the company and Mr. Kiernan holds a 37.1-per-cent interest.
The company’s common shares will resume trading at the opening of the market on Wednesday, July 13, 2022.
About Diamond Fields Resources Inc.
Diamond Fields is a TSX Venture Exchange-listed exploration and mine development company focused on gold and other commodities in Africa. Following the acquisition of Moydow Holdings, the company holds interests in a portfolio of West African gold exploration projects, including the highly prospective Labola gold project in Burkina Faso. Labola has a mineral resource prepared in accordance with National Instrument 43-101 comprising 5.41 million tonnes of indicated resources at an average grade of 1.52 grams per tonne Au for a total of 264,000 ounces of gold; and 6.93 million tonnes of inferred resources at an average grade of 1.67 g/t Au for a total of 371,000 ounces of gold.
In Madagascar, Diamond Fields has an advanced high-grade hard rock zircon exploration prospect located in the west of the country, approximately 220 kilometres east of the port of Maintirano and close to a state road. The company acquired Beravina from Pala Investments and Austral Resources in 2016. In Namibia, the company owns several offshore diamond mining licences.
