Lucapa Diamond reported that it was registered as a 70 percent shareholder Mothae Diamonds Limited (MDL), which owns the license for mining operations and other assets related to the high-priority kimberlite diamond project Motae (Mothae) in Lesotho.
Earlier Lesotho authorities issued MDL 10-year license to mine diamonds from the project Motae.
Lucapa also made a first payment of $ 400,000 to the Government of Lesotho for its share to MDL.
The company also reported that its appointed representatives to the board of MDL.
The board of directors will include the executive director of Lucapa Vezeroll Stephen (Stephen Wetherall), chairman of Maylz Kennedi and Chief Operating Officer Nick Selby
"In addition, Lucapa Uaytloka appointed Keith and Yana Ventera in the reign of MDL", - said in Lucapa.
"Uaytlok -. Former CEO Letšeng Diamonds And he and Venter have considerable experience in the development of a diamond mine in Lesotho," - added to the diamond company.
Meanwhile, the company said it engaged an independent consultant to the diamond resource conversion Motae Canadian Standard NI43-101 and bring it into conformity with the JORC 2012.
"It is expected that this work will be completed in the near future", - said in a statement Lucapa.
The company plans to introduce Mothae be operational within 12 months.
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