Lucapa to become a niche diamond company, says Wetherall

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19 february 2018

Zimnisky: Diamonds lack fungibility to be a major investment product

Physical diamonds will never be a viable widespread investment product simply because they inherently lack fungibility, meaning they are all unique, according to Paul Zimnisky, an independent diamond industry analyst and consultant, who is based in New...

12 february 2018

Julien-Vincent Brunie: "Being surrounded by beauty and art is a privilege!"

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05 february 2018

Ali Pastorini: We would like meeting Mujeres Brillantes 2018 to be held in Russia

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29 january 2018

Diamond Exchanges promote healthy development of the diamond industry, besides safe and basic infrastructures for diamond trade

Prior to joining the Guangzhou Diamond Exchange, Liang Weizhang served as a civil servant of Guangdong Entry-Exit Inspection & Quarantine Bureau as the director of the Kimberley Process Office. He participated in the KP Review missions to South Africa...

22 january 2018

Stornoway earns $48M from diamond sales during Q3

13 november 2017
Stornoway Diamond Corporation has announced that its diamond sales in the third quarter of 2017 amounted to $48.1 million, or 405,643 carats sold.
The average diamond prices achieved were $95 (CAD$119) per carat compared to $87 per carat in the second quarter and $81 in the first quarter.
The company also said it has produced 442,154 carats of diamonds at 87 carats per hundred tonnes during the period under review from its wholly-owned Renard project in Canada. Operating costs at the project amounted to CAD$66.39 per carat.
"Strong production results in the third quarter were matched by continued good performance in cost management. Our average operating cost of CAD$66.39 per carat compares favourably with an average sales price of CAD$119 per carat, with a beat on carats produced and grade over our mine plan. This strong underlying operating result in our business is being achieved even as we continue our work to improve the quality of our diamond recoveries," said Matt Manson, Stornoway president and CEO.
"Our pricing at sale is increasing quarter by quarter, although a correction at the end of the third quarter served to slow the rate of increase, and we foresee a flat outlook for the rest of the year.”
At quarter end, cash, cash equivalents and short-term investments of Stornoway stood at $52.6 million.

Theodor Lisovoy, Rough&Polished, Moscow


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