Diamond stocks Articles

An adapt-or-die moment for junior miners

May 21, 2013 / Mining Markets staff

Newsletter writer and mining analyst John Kaiser sounds a little dejected as he describes the utterly bleak state of the mining industry today."The phones are completely dead, nobody cares," says the editor of Kaiser Research Online. "Companies can't raise money, it's like a complete dying sector."Kaiser made a now-famous prediction last year that around 500 juniors were bound for "extinction" bec...Read More

Dominion Diamond updates on Diavik, Ekati

May 10, 2013 / Mining Markets staff

Dominion Diamond (DDC-T, DDC-N) and Rio Tinto (RIO-N, RIO-L) have bumped up their 2013 production forecast for their jointly owned Diavik diamond mine, in the Northwest Territories.The 40%-60% partners now expect Diavik to produce 6.6 million carats for the year, 11% higher than their previous estimate of 6 million carats.The company said the increased output is anticipated to come from the compan...Read More

A pleasant surprise for Stornoway Diamond

April 11, 2013 / Mining Markets staff

The first valuation of diamonds from the Renard 65 kimberlite at Stornoway Diamond's (SWY-T) Renard project, in north-central Quebec, has yielded positive results for the mine developer.A valuation on 997-carat parcel of diamonds from Renard 65 by WWW International Diamond Consultants produced an average price of US$250 per carat. The average value was somewhat skewed by two stones that are among...Read More

Dominion Diamond already eyeing growth

April 4, 2013 / Mining Markets staff

Robert Gannicott, chairman and CEO of the newly rebranded Dominion Diamond (DDC-T, DDC-N) can't say much yet about the company's US$500-million acquisition of the Ekati mine in the Northwest Territories from BHP Billiton (BHP-N, BLT-L).The transaction, which is set to close on April 10, will mark the beginning of a new chapter for the former Harry Winston Diamond, which just closed the US$1-billio...Read More

Aber alumni option Stornoway projects

March 14, 2013 / Mining Markets staff

Stornoway Diamond (SWY-T) cofounder and former CEO Eira Thomas has signed a deal to option three exploration projects owned by the company.Thomas, who was a director of Stornoway until 2011, is assigning the rights and obligations of the option to North Arrow Minerals (NAR-V) - her father Grenville Thomas' company.Grenville Thomas founded Aber Resources (now Harry Winston Diamond [HW-T, HWD-N]), w...Read More

De Beers racing to resupply Victor, now that blockade is over

February 27, 2013 / Mining Markets staff

De Beers is scrambling to get supplies into its Victor diamond mine in northern Ontario, after members of the Attawapiskat First Nation blocked access to the mine via the seasonal ice road for much of February.The company normally has a roughly 45-day window in which to use the ice road to truck in fuel, heavy equipment and supplies for the year. The majority of its shipments have not made it in y...Read More

Lucara uncovers more blue diamonds at Karowe

January 8, 2013 / Mining Markets staff

Blue diamonds continue to pop up at Lucara Diamonds (LUC-T) Karowe diamond mine, in Botswana. The junior announced today it has recovered two more of the rare gems, bringing the total to four so far. Production at Karowe began in July 2012. The stones weigh 4.77 carats and 0.2 carat, respectively. Lucara sold a 9.46-carat blue diamond from Karowe for $4.5 million ($477,272 per carat) last year, as...Read More

Eight juniors that cheered the market in 2012

December 20, 2012 / Mining Markets staff

In 2012, junior miners faced a dreary market. Despite a rally early in the year, from Jan. 3 to Nov. 15, the S&P/TSX Venture Composite Index fell by 19% overall.But there were some juniors who managed to defy the market downdraft and rise by more than 100% over that period.These companies gave investors something to cheer about and were thus rewarded with access to capital and the chance to build...Read More

Pierre Lassonde: The gold guru sounds off on diamonds

November 29, 2012 / Mining Markets staff

In a frank discussion with Diamonds in Canada in late September, the cofounder and now chairman of Franco-Nevada (FNV-T, FNV-N) and ex-Newmont Mining (NMC-T, NEM-N) CEO explains why he believes diamonds will continue to be a tough space for the next couple of years, why he still dabbles in investing in the gems, and why they ultimately will stage a comeback.Diamonds in Canada: You're known as a go...Read More

An hour with mining great Pierre Lassonde

November 22, 2012 / Mining Markets staff

The big news Canada's diamond sector was waiting for - what will happen with Ekati and Diavik, the two diamond mines in the country that may be up for grabs - has been partially answered. Harry Winston Diamond (HW-T, HWD-N) announced last week that it is buying Ekati - Canada's first diamond mine - for $500 million from BHP Billiton (BHP-N, BLT-L). Unfortunately, we went to press with our November...Read More

Stornoway takes the DIY route to Renard

November 15, 2012 / Mining Markets staff

With the construction schedule at its Renard diamond project in Quebec at risk, Stornoway Diamond (SWY-T) has stepped up to take charge of the Route 167 extension that will provide road access to the project.A good portion of the 243-km-long road, which is being built by the provincial government under its Plan Nord initiative to open up investment in Quebec's northern reaches, is already complete...Read More

Lucara Diamond CEO just getting started

November 9, 2012 / Mining Markets staff

"I don't ever believe in using the word try," says William Lamb, the current driving force behind Lucara Diamond (LUC-T). "If you try, you are setting yourself up for failure. You are either going to do something or you are not, so when you say you are going to do something, you continue to work at it until you achieve," the 41-year-old mining executive said in a telephone interview from Johannesb...Read More

Lucara sees blue at Karowe

November 6, 2012 / Mining Markets staff

Lucara Diamond (LUC-T) has found a rare blue diamond at its Karowe diamond mine, in Botswana.The mine, Lucara's first, began commercial production in July. Karowe was known to host high-value Type II diamonds, but the 9.46-carat Type II stone is the first blue diamond recovered.The stone will be sold in a tender of 57,000 carats of diamonds from Karowe in late November. The tender will be the four...Read More

Can India rescue the battered diamond market?

November 1, 2012 / Mining Markets staff

China's rising appetite for diamonds is often the focus of attention for diamond-watchers, but there's another Asian giant that plays a pivotal role in the market.Like China, India has a vast consumer market for diamonds, but the country is also a big trading centre for diamonds, and the place where roughly 80% of the world's diamonds are polished.During the financial crisis, India was somewhat is...Read More

Diamcor Mining closes in on first diamond sale

October 19, 2012 / Mining Markets staff

Diamond junior Diamcor Mining (DMI-V) is flying high: The junior's share price has gone from a low of 26 late last year to a recent 52-week high of $1.41.The steady share price climb, aided by a tight share structure of 30 million shares outstanding, has mirrored the company's progress at its Krone-Endora operation, in South Africa. Diamcor is in the process of commissioning a 200-tonne-per-day m...Read More

Mountain Province Diamonds proposes $47M rights issue for Gahcho Ku

October 11, 2012 / Mining Markets staff

To pay for its share of initial capital costs at the $550-million Gahcho Ku diamond project, in the Northwest Territories, Mountain Province Diamonds (MPV-T, MDM-X) has announced it's planning to raise $47 million in a rights issue.The funds should take the company through the permitting stage, expected to conclude in 2013, at its 49%-owned Gahcho Ku project. Mountain Province is advancing the pro...Read More

Diamonds North presses the reset button

October 3, 2012 / Mining Markets staff

"Clarity, diligence, perseverance" are the words that still greet visitors to the website of exploration junior Diamonds North Resources (DDN-V). But after a decade of dealing with the logistic complications, short seasons and increasingly expensive reality of exploration in the north, the company's new motto could well be "simpler, faster, cheaper." That's because the company is heading south - j...Read More

Peregrine Diamonds sheds light on Chidliak deal with De Beers

September 19, 2012 / Mining Markets staff

Diamond exploration may have fallen out of favour with many investors, but Peregrine Diamonds (PGD-T) reports that more than one party expressed interest in its Chidliak diamond project, in Nunavut, after joint-venture partner BHP Billiton (BHP-N, BLT-L) announced it was pulling out of the project (and looking at getting out of the diamond industry entirely) late last year.Peregrine announced it h...Read More

!Xam Diamonds hosts Women in Mining

June 26, 2012 / Mining Markets staff

!Xam Diamonds hosted a private party for the Women in Mining at its downtown gallery in Toronto on June 14. The "Summer Colours" party featured special guest speaker Katherine Dunnell, a minerals and gems expert from the Royal Ontario Museum. Among the many interesting facts Katherine shared with the audience was a warning about synthetic gems. Katherine said that one should always ask questions i...Read More

Arctic allure

June 15, 2012 / Mining Markets staff

Ever since the Klondike gold rush at the close of the 19th century, Canadians have become extraordinarily skilled at overcoming the challenges of extracting gold from the permafrost at a profit.Now robust commodity prices are triggering a fresh stampede to the Arctic as mineral and oil and gas producers reach farther afield in their search for undeveloped deposits to meet demand. Mineral explorati...Read More