Paragon Diamonds {AIM: PGN} has delisted from the AIM market.

Management finally admitted defeat in their attempts to raise finance by year end.

Comment

Another example of how brutal the resources sector is being treated by those that finance such projects.

Once again a company that would normally be able to raise finance is thrown to the wolves by the lack of institutional support.

This does not augur well for the sector in 2016.

Paragon have stated their intention to relist in due course, on either the junior or main market, as soon as is practicable after a cash injection has been secured, assuming it is of course.

Once raised, the investment will allow Paragon to develop the Lemphane project, and acquire the Mothae property, both located in Lesotho.