Diamond Fields Resources Inc.’s shareholders have voted in favour of all resolutions proposed by management at the annual general and special meeting of shareholders held on June 9, 2022. The acquisition of Moydow Holdings Ltd. was approved by a significant majority of the minority shareholders voting at the meeting. The transaction was originally announced by Diamond Fields on Aug. 25, 2021.
Regulatory approval
The transaction remains subject to final approval by the TSX Venture Exchange and is anticipated to close later during the month with trading in the company’s shares expected to resume shortly thereafter.
Diamond Fields is a TSX Venture Exchange-listed exploration and mine development company with assets in Madagascar and Namibia. Diamond Fields is in the process of acquiring Moydow, a privately owned West African-focused gold exploration business which 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 gold for a total 264,000 ounces of gold and 6.93 million tonnes of inferred resources at an average grade 1.67 g/t Au for a total of 371,000 ounces of gold.
In Madagascar, Diamond Fields has an advanced high-grade hardrock 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. Diamond Fields acquired Beravina from Pala Investments and Austral Resources in 2016. In Namibia, the company owns several offshore diamond mining licences.
