brzailian environment agency halts diamond exploraHi All,
Been holding for over a year. This is my first post to this board. I was doing a Google on Mato Grosso and found this report on DIAGEM´s work being halted for deforestation. They believe it is an error and are contesting. Hope our boys are in the "good books".
Here´s the link about their recent sampling and problems. I also clipped a short piece to paste in this letter.
I am long and holding.
GLTA
Santiago
https://www.earthtimes.org/articles/show/diagem-recovers-a-62-carat,373397.shtml
The Company received notification from the Brazilian Federal Agency of the Environment ("IBAMA") to halt the drilling and bulk sampling program the Company has commenced at the Chapadao diamond project. Diagem believes the basis for the action taken by IBAMA to be erroneous. The notification relates largely to deforestation caused by third parties prior to Diagem gaining access to the property. Diagem had documented the deforestation which had occurred prior to the commencement of the recent drilling and bulk sampling program and is providing this information to the relevant authorities. Furthermore, the Company has been evaluating the diamondiferous deposits under a License of Operation from the Mato Grosso State Environmental Agency ("SEMA") and a work permit from the Brazilian National Department of mineral production ("DNPM").
The Company's Brazilian legal counsel has reviewed the IBAMA notifications and concluded that:
- the notifications are not in compliance with Brazilian law and amount to malicious prosecution on the part of the IBAMA agents involved;
- the procedures initiated by IBAMA are abusive and excessive and disproportionate in relation to the alleged wrongdoing;
- due to their non-compliance with environmental regulations and laws, the procedures initiated by IBAMA should be declared null and void.
As a result, the Company is requesting an immediate suspension of the IBAMA notifications.
This Chapadao project has the potential to become a major job creator for the community and has the promise of a significant return for the shareholders who have long supported the Company. The Company will vigorously pursue any and all legal means of reversing the intervention with the goal of rapidly resuming evaluation work on the project
This press release has been reviewed by Christophe Le Noan, M.Sc, Geo., Diagem's qualified person under National Instrument 43-101.
About Diagem
Diagem Inc. is a publicly listed Canadian exploration-stage company focused on primary diamondiferous resources in the Juina Diamond Province of Mato Grosso, Brazil, where it controls a large portfolio of mineral properties. The Company has one advanced development stage project and two recently discovered clusters of kimberlite pipes believed to be significant sources of Juina's historical alluvial diamond production.