Subiaco-based diamond explorer Elkedra Diamonds NL will be acquired by Toronto Stock Exchange-listed Vaaldiam Resources Ltd for about $55 million in scrip, enabling the Canadian to expand its presence in South America.

Subiaco-based diamond explorer Elkedra Diamonds NL will be acquired by Toronto Stock Exchange-listed Vaaldiam Resources Ltd for about $55 million in scrip, enabling the Canadian to expand its presence in South America.