[miningmx.com] — GEM Diamonds said it has been in talks with Canadian-listed Lucara Diamond Corp over a possible merger.
Lucara Diamond, however, said it was in talks with several companies in the diamond sector, including Gem Diamonds.
“These discussions are at a very early stage and there can be no certainty the contemplated merger will occur or of the timing or terms of any such transaction,” Gem Diamonds said in a statement on Monday.
Gem Diamonds said it expects to publish an updated statement of reserves and resources to include its Botswana project Gope at or before the release of its April trading statement.
Last October, Lucara agreed to buy AIM-listed exploration company African Diamonds for $83.3m in a deal to enable both companies to benefit from the AK6 diamond discovery in Botswana.
