Monaco-based Mauritian businessman buys three diamond licences in Namibia for US$250 000


Monaco-based Mauritian businessman Jean-Raymond Boulle's company now owns three mining licences in Namibia after buying out DFR Gold.

DFR Gold was, until Jan. 27, known as Diamond Fields Resources Inc. 

Jean-Raymond Boulle has a 39.1% stake in the TSXV-listed DFR Gold through Spirit Resources SARL.

DFR Gold announced on Feb. 8 that they had finally sealed the deal to sell off all its Namibian diamond assets to Jean Boulle Diamond Mines Ltd for cash payment of US$150,000, annual US$100,000 cash payments and a 1% royalty of net sales from the assets.

Jean Bulle Diamond Mines now owns mining licence 111, previously under DFR Diamond's Namibian subsidiary Diamond Fields. 

Licence 111, which lies within Luderitz Bay between Diaz Point in the south and Marshall Forks in the north, has a 10-year lifespan that ends on Dec. 4 2025.

The second diamond asset is licence 139, whose term expires in November 2029. This asset was under DFR Gold's subsidiary, Namibia Diamond Company, in which it had a 70% stake.

The third asset is mining licence 32 east of licence 111. This licence will expire in December 2023.

Jean Boulle Diamond Mines will pay US$90 000 for licence 111 annually and US$5 000 each for  139 and 32 from Sept. 1, 2023, until either Jean Boulle Diamond Mining no longer holds the relevant license or Sept 1, 2035.

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