Global Gems owns a 45 percent stake in the project Dala.
Gem International said in a statement that the possible agreement, it can get a 88% stake in the restructured Global Gems project Dala after payment of $ 300,000 and approval of the TSX Exchange. The company will also be required to pay $ 300,000 in the second year after the approval of the transaction and $ 400,000 after the third year.
The Gem International was also informed that the project will be expanded to include the plan for exploration and development rights to six well-known kimberlite pipes.
At the same time, in the Gem announced their intention to hold a private placement for $ 400,000 from the sale of 8,000,000 shares at a price of $ 0.05 per share.
Funds should be used for working capital of the company and preparation of documents related to the regulatory approval of the above, the proposed mechanism, as well as compensation.
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The negotiations between the Minister of the mining industry of the Central African Republic (CAR) Joseph Agbo (Joseph Agbo) and a representative of the largest diamond mining company SODIAM country, held under the chairmanship of the Kimberley Process Certification Scheme (KP) Ahmed Bin Sulayem (Ahmed Bin Sulayem), seems to be possible to overcome long-standing differences between the two parties on the resumption of diamond exports from the country, according to the UAE edition of The National.
CAR's membership in the Kimberley Process was suspended in May 2013, and therefore the trade in rough diamonds from that country become unlawful for Members of the Kimberley Process.
Officials KP last year recommended the resumption of diamond exports from the Central African Republic, but has been reported, the process is delayed internal disagreements over the implementation of the idea.
Commenting on the meeting, Bin Sulayem said: "The actual resumption of exports from the Central African Republic has been one of the main Presidency priorities (UAE) in KP in 2016, and I am particularly proud that we were able to find a way out of the impasse, which for so long an obstacle to the export of" .
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