Luderitz Bay

Namibia (DFR 100%)

  • On 28 November 2022 DFR announced the sale of its Namibian diamond assets (the “Namibian Concessions”) to Jean Boulle Diamond Mines Ltd. for a consideration an initial cash consideration of US$150,000, annual cash payments of US$100,000, and a 1% royalty of net sales from the Namibian Concessions, after allowing for selling related costs. Closing of the transaction is subject to approval by the TSX Venture Exchange and any other required approvals. Read More
  • Historically producing offshore diamond mining licences
  • 2 licences owned through a 100% owned Namibian subsidiary, including ML111
  • 2018/2019 mining campaign on ML111 yielded net proceeds of $1.1 million for DFR
  • 1 shallow water mining license (DFR ownership 70%)