A new company with connections to Vancouver promoter Robert Friedland has been formed to acquire diamond properties around the globe.
Diamond Fields Resources (VSE), formerly Rutherford Ventures, recently listed on the Vancouver Stock Exchange at $4 and is now busy tying up properties in Arkansas, Minnesota and Namibia.
Friedland holds an interest in the company through his 50% stake in Maria Investments. Ian Telfer, president of Venezuelan Goldfields, sits on the board of directors.
Initially, Diamond Fields’ main asset will be The Diamond Mining Company of America, which has a stake in the Crater of Diamonds lamproite pipe in Arkansas.
Diamond Fields can also acquire three exploration properties in Arkansas and one in Minnesota by issuing 200,000 shares per property and paying US$50,000. President Jean-Raymond Boulle was packing for Namibia when The Northern Miner reached him at his home in Dallas, Tex. He says the company is completing a due diligence study on several alluvial diamond concessions along the west coast of that country.
Boulle was a manager at De Beers in London, Zaire and West Africa before moving to the U.S. in the 1980s to set up his own private company. He has been involved in diamond exploration in Minnesota and Arkansas for 11 years. To finance its acquisitions, Diamond Fields completed a private placement of 3.75 million units at 15 cents per unit. Each unit consists of one share and one warrant exercisable at 15 cents per share. The company has an authorized capital of 50 million shares.
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