By merging with Centenary Investments, diamond producer Redaurum (RRK-T) would acquire assets worth more than US$100 million, according to a valuation report by a Calgary-based consulting firm.
Centenary owns mining, exploration and smelting operations in the U.S., South Africa and Angola. Redaurum controls diamond mining operations and exploration projects in Colorado, South Africa, Zimbabwe, Botswana, Namibia and Indonesia. However, some of those diamond projects have been put on the block. Shareholders of Redaurum will meet July 15 to vote on the proposed merger.
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