Paragon Diamonds feels impact of Sierra Leone write down

Paragon Diamonds recorded a cash balance of Â£1.2m as at 31 December 2011 and confirmed a further fundraising of Â£1.7m post period end to fast track Lesotho projects in 2012

A loss during the year of Â£14m was mostly attributable to an impairment charge of Â£14.7m (a non-cash charge relating to the write down of Sierra Leone assets)

A Â£4.2m gain was recognised during the year on acquisition of further interest in IDC (a non cash increase in the asset value of IDC)

Operating costs and administrative costs reflect full 12 month accounting period (Comparative period was for 2 months)

At 9:53am: (LON:PRG) Premier Research Group share price was +0.26p at 20.63p

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01/06/2012