Canadian Mining Journal

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DIAMOND DEAL – SouthernEra supports Mwana offer

TORONTO The Board of Directors of SOUTHERNERA DIAMONDS of Canada has agreed to support the takeover offer put for...


TORONTO The Board of Directors of SOUTHERNERA DIAMONDS of Canada has agreed to support the takeover offer put forward by MWANA AFRICA of London, U.K. The latest offer is valued at Cdn$0.67 per SouthernEra share, making the transaction worth Cdn$105.3 million. The amended officer will close on Sept. 5, 2007, at 5:00 pm EDT and is subject to certain conditions.

SouthernEra owns the Klipspringer diamond mine in South Africa and an 18% free-carried interest in the Camafuca diamond project in Angola. The company also has active exploration projects in the Democratic Republic of Congo, Botswana, South Africa and Canada.

Mwana owned 9.5% of SouthernEra prior to announcing its takeover plans last spring. Please see www.MwanaAfrica.com.


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