RAPAPORT... Alrosa will not hold a rough trading session in October in an effort to avoid releasing too many goods during a fragile recovery in the diamond market. The Russian miner will combine its October and November sales, it said Thursday. "This will help to support a nascent supply-demand balance by servicing only real demand from the clients, as uncertainty persists, thus avoiding a ri...Read More
RAPAPORT... India's polished-diamond exports declined 20% in September - a more moderate fall than the country had experienced in previous months. Rough imports rose 16% as De Beers and Alrosa started selling in large quantities again.India Trade Data for September 2020 Read More
RAPAPORT... Tiffany & Co. has witnessed a rebound in its operations during the third fiscal quarter, driven by growth in e-commerce sales and a strong recovery in China, the jeweler said Thursday.Operating earnings grew 25% year on year during August and September, although group sales declined slightly, the New York-based jeweler reported in an unscheduled update for the period. "While w...Read More
RAPAPORT... Diamond resources at Lucapa Diamond Company's Mothae mine in Lesotho are 280% higher than it originally estimated, it said Thursday.The increase is due to the new commercial processing plant the miner has installed at the deposit, noted Lucapa managing director Stephen Wetherall. The company has raised its assessment of the volume of indicated diamonds - those known based on drilled ar...Read More
RAPAPORT... The Gemological Institute of America (GIA) has launched its new grading reports for lab-grown diamonds, offering an updated look and format.The new documents, branded "LGDR by GIA," come in digital-only form and use specific color and clarity scores rather than the descriptive terms and ranges that appeared in its previous reports, the organization said Tuesday."The evolution of G...Read More
(IDEX Online) - Tiffany & Co has launched a highly personal attack on LVMH boss Bernard Arnault, citing his reputation for a "ruthless approach to acquisitions".The New York-based jeweler is still smarting after the French luxury conglomerate dramatically pulled out of its $16.2bn acquisition last month, blaming the threat of US trade tariffs.Tiffany hit back with a legal attempt to force thro...Read More
RAPAPORT... Star Diamond Corporation may end its partnership with Rio Tinto, stating it believes the Australian mining giant is responsible for the unnecessary breakage of large diamonds.Rio Tinto recovered 3,005 diamonds weighing a total of 131.82 carats from its most recent bulk sampling at the Star-Orion South project in Saskatchewan, Star Diamond said Wednesday. Those included 2.69-, 2.03- and...Read More
(IDEX Online) - Diamond industry veteran Chaim Pluczenik has been elected president of the Antwerp World Diamond Centre (AWDC).He pledged to do all he can to help Antwerp recover from the devastating impact of the coronavirus pandemic.Mr Pluczenik takes over from Nishit Parikh, who retired after two years in office without seeking re-election.AWDC represents Belgium's diamond sector and offer...Read More
Base metals prices on the LME and the SHFE were mixed this morning, Thursday October 15, with concerns over the spread of Covid-19 and the reduced likelihood of a US stimulus package any time soon dampening optimism.* Governments in Europe are trying to avoid widespread lockdowns, but Covid-19 is spreading alarmingly.* United States 10-year treasury yields slip as traders turn more risk-off.Base m...Read More
Drill results multiply value options in front of YandalSPONSOREDyandal resourcesGold production was slightly higher than in the second quarter due to stronger performances from the Carlin mine of Nevada Gold Mines in USA and Pueblo Viejo in Dominican Republic, its two jointRead More
Pantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsRamelius now among WA gold frontrunnersSPONSOREDramelius resourcesAgile Mining - The Future is Smaller. Bigger is not always betterSPONSOREDproudfootThe company announced this week the first hole at Porvenir was completed at 909.3m depth, having intersected 893.4m of vis...Read More
Drill results multiply value options in front of YandalSPONSOREDyandal resourcesNorthern Star Resources and Saracen Mineral Holdings continued their domination of this year's conference by jointly taking out the Dealer Award for their separate acquisitions of the Super Pit.Saracen boss Raleigh Finlayson and Northern Star executive chairman Bill Beament accepted the award, with Finlayson speaking f...Read More
Vertex Pharmaceutical (VRTX), a NASDAQ 100 stock moved below $253.97 extending an intermediate downtrend. Verizon (VZ), a Dow Jones Industrial Average stock moved below $58.03 setting an intermediate downtrend.AT&T (T), an S&P 100 stock moved below $27.45 extending an intermediate downtrend. Pre-opening Comments for Thursday October 15thU.S. equity index futures were lower this morni...Read More
Pantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsRamelius now among WA gold frontrunnersSPONSOREDramelius resourcesAgile Mining - The Future is Smaller. Bigger is not always betterSPONSOREDproudfootIronically, given bans on face-to-face meetings between investors and company executives, corporate access to capital has...Read More
Months after shareholders of TMAC Resources (TSX: TMR) approved a takeover of the company by China's Shandong Gold Mining, the federal government has ordered a national security review of the transaction.The US$149-million, $1.75-per-share deal was announced in May, with more than 97% of shareholders voting in favour in June. The plan was also approved by the Ontario Superior Court of Justice in J...Read More
The board of directors of Argonaut Gold (TSX: AR) has approved construction of the company's wholly owned Magino gold project in Ontario, 40 km northeast of Wawa.With a two-year construction period anticipated for Magino starting in January 2021, Argonaut expects to pour first gold at the operation in 2023. Before the mine build can begin, the company needs to first file a closure plan and post an...Read More
The Covid-19 pandemic has choked off revenue for diamond producers and funding for diamond juniors for much of the year. But with the diamond trade slowly starting to reopen and buyers and sellers adjusting to life under the pandemic, some companies outside of the big two - De Beers and Alrosa - have proven to be resilient. Here's a look at seven small diamond producers and explorers that are sold...Read More
The U.S. dollar, as measured by an index tracking it versus six major currencies including the Euro, Yen and Canadian dollar, is down almost 10% from the highs in March to mid-October. The weakness is at least in part a response to record economic stimulus by the U.S. in the form of cash payments and also suppressed interest rates - the former reflected in the Federal Reserve's balance sheet, whic...Read More
Endeavour Mining (TSX: EDV), West Africa's top gold producer, has resumed operations at its Boungou mine in Burkina Faso, a year after previous owner Semafo decided to shut it down following an attack that killed 39 civilians.The Toronto-listed miner said the reopening of the mine follows infrastructure improvements and a new security plan developed in "close partnership" with Burkina Faso's gover...Read More
Radisson Mining Resources (TSXV: RDS; US-OTC: RMRDF) has released assay results for hole OB-20-156, drilled within its wholly owned, past-producing O'Brien project in Quebec, which hit high-grade gold, 250 metres below the resource shell.The drill hole returned 21 metres of 6.89 grams gold per tonne, which includes higher-grade intercepts such as 2 metres of 4.81 grams gold, and 12 metres of 11.32...Read More