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Amulet Diamond nixes acquisition of Botswana assets from Firestone Diamonds

Firestone Diamonds PLC said Dec. 18 that Amulet Diamond Corp. will not exercise an option to acquire the former's assets in Botswana through the acquisition of a 90% stake in subsidiaries Firestone Diamonds (Botswana) Pty. Ltd. and Monak Ventures Pty. Ltd.

The proposed conditional deal, valued at US$5.1 million, would have included Firestone Diamonds' interest in the BK11 diamond mine.

Despite the move, Firestone Diamonds said it remains in active discussions with Amulet Diamond on the sale of the assets.