The Lundin Group of Companies include Lundin Petroleum, Lundin Mining, Africa Oil and Lucara Diamond (Image: Lundin Mining)

The Lundin Family has a number of trusts in which they invest heavily in their own Group companies, including Africa Oil, Lundin Petroleum, Lucara Diamond and Lundin Mining.  The family also invests heavily in other companies.  One such company is the Canadian diamond explorer, North Arrow Minerals (NAR:TSXV).

Last year the company discovered kimberlite in east central Saskatchewan, on the company’s Pikoo claims.  Initial drilling found 745 diamonds larger than 0.106mm including 23 diamonds larger than 0.85mm from a 209.7kg sample.  They also hold interests in Nunavut.  Their Qilalugaq Project hosts a 26.1 million carat mineral resource estimate.

Pikoo is a new diamond discovery in Saskatchewan (Image: North Arrow Minerals)

Pikoo is a new diamond discovery in Saskatchewan (Image: North Arrow Minerals)

The company believes it is on to a new Canadian diamond discovery in Saskatchewan.  The Lundin family, through one of their family trusts, is willing to fund them as they test their discovery concept.  Zebra Holdings and Investments Sarl first bought  5,448,333 shares at $0.40 of North Arrow in June 2013 to become a 19.86% shareholder.  After that, Lundin’s diamond executive, William Lamb (current President and CEO of Lucara) joined the board of North Arrow.

The company recently closed a $5 million bought deal at $0.65 per share.  Today Zebra announced they had opted to maintain their equity stake in the company by acquiring another 1.54 million shares.  After the overallotment is exercised, Zebra will hold 18.61% of North Arrow.

The shares are now trading at $0.75 making their stake worth over $5 million.

Here’s the chart:

NAR Chart
NAR data by YCharts

Read: Zebra Holdings and Investments S.a.r.l. Acquires Shares of North Arrow Minerals  Inc.