Americas Diamond Corp. (ADMC) Enters Letter of Intent to Acquire SUDAM Diamonds
Americas Diamond, a diamond and precious metals exploration company, has entered into an agreement to acquire SUDAM Diamonds Ltd., which has an option on two diamond concessions backed by an investment of more than $13 million in addition to a processing and production facility. SUDAM Diamonds has assets consisting of two parts: an option to acquire Compania Minera Adamantine CA, a Venezuelan company which presently holds two diamond concessions; and a three 3-stage treatment plant, 50-70tph scrubber, 10tph DMS plant, and X-Ray final recovery section from Bateman’s in South Africa. Per the agreement, Americas Diamond will issue shares in equal…