June 8, 2008 The project is on hold: Peakstar has given Paramount notice of suspension of the Option Agreement pending resolution of the issues surrounding Ministerial approval (Black Empowerment issues).
April 30, 2008 Reported that the indicated undiluted kimberlite grade from evaluation testing to date at Peakstar was almost 50 carats per one hundred tonnes. Kimberlite grade appears to be moderately consistent throughout all depths sampled, with variation in kimberlite grade usually due to the occasional occurrence of a diamond over 3 carats in weight. Since bulk testing commenced in May 2007 (prior to Paramount’s involvement) to the end of the March 2008 quarter a total of 14 diamonds over 3 carats in weight have been recovered – equivalent to one larger stone per 84 tonnes of kimberlite treated.
April 21, 2008 Reported that it has sold a 15.47 carat D colour clear white stone at over US$11,000 per carat for US$170,172.