Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Philip Manduca, hedge fund pioneer and newly established executive chairman of AIM dog Paragon Diamonds (PRG), is trumpeting big ambitions for the company and its Lemphane kimberlite pipe in the gem-rich southern African kingdom of Lesotho. His strategy includes moving to production at Lemphane, where Paragon owns 80 per cent and suspects it holds a minimum of one million carats, as soon as possible, perhaps before next March, and vertically integrating the company by taking significant stakes in cutting, polishing and retailing stones.
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