Firestone to decide on new acquisition deal
Shareholders of Botswana’s latest diamond junior miner, Firestone Diamonds, will meet next month to vote on a proposed acquisition of South African Kopane, a transaction that will catapult the former from a junior company to a mid-tier miner, if it goes through.
Firestone, which is expected to list on the Botswana Stock Exchange (BSE) soon, last month released details of its proposed takeover of Kopane through a scheme of arrangement.
An all-share offer by Firestone will involve 0,4657 of a share for every Kopane share.
The acquisition is expected to support the company’s aspiration to evolve into a mid-tier diamond producer with potential to produce more than one [continue reading]