DISGRACED Australian businessman Alan Bond, will "take a back seat" in moves to bring his 10.2 Mct Kao diamond project in Lesotho into production, according to its newest shareholder, River Diamonds plc. AIM-listed River Diamonds has taken a 4.8 percent stake in Bond's Lesotho Diamond Corp for 4 million pounds and an option to acquire a further 2.3 percent by April 2008. Bond's reputation has seen him fail in a three-year-long attempt in the UK and Canada to list privately-held Lesotho Diamond Corp, and raise up to 200 million US dollars needed to bring the advanced-stage kimberlite project into production.
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