Color diamonds are more valuable and desirable and a better investment

In 1993, Eyal Cohen started his career as a diamond cutter, sitting by his father’s side as an apprentice. 4 years later, he was recruited by a jewelry firm, where he learned to appreciate natural colored diamonds. In 2003, Eyal opened his own company...

17 september 2018

Debate on the main issues affecting the diamond business is absolutely critical - Ernie Blom

Having taken part in the fruitful discussions with the world leaders at the Asian Summit held recently in Vladivostok, Ernie Blom, President, World Federation of Diamond Bourses (WFDB) now looks forward to taking the worthy inputs received at...

10 september 2018

Reflecting the nature of the industry, US jewellery market is significantly seasonal with great ‘ebb and flow’ in demand, opines Vin Lee

Vin Lee, CEO of Beverly Hills-based Grand Metropolitan, a privately-held luxury goods holding company had migrated from Canada as a child. And one can see that it did not take him long to ascend the US luxury world, establishing himself as a formidable...

27 august 2018

Vladimir Zboykov: New times have come for jewelers

How a personal collection of minerals was thrown on the scrap-heap, who is behind the destruction of gemstone consumption culture in Russia and why jewelers will soon have to choose between business and prison – all this was told to Rough & Polished...

20 august 2018

Changing preconceptions in the diamond and financial markets

Eli Avidar is a man on the move…literally. In April, the former Israeli diplomat stepped away from the CEO’s office at the Israel Diamond Exchange, a position he had held for more than two years, and from the Israel Diamond Institute, where he had been...

13 august 2018

Rockwell fails to file audited financial year-end results

03 july 2018
news_03072018_rockwell.jpgRockwell Diamonds has failed to file audited versions of its annual financial statements for the year ended February 28, 2018 that were due June 30. 
The failure was due to the company’s current funding constraints and uncertainty of outcome of the liquidation process of its subsidiaries in South Africa, which would affect the raising of funds to consider and complete a share buy back from shareholders.
Rockwell’s shares were delisted at the end of August 2017 from the Toronto Stock Exchange and concurrently listed on the NEX, a separate board of the TSX Venture Exchange.
It was still listed on the Johannesburg Stock Exchange Limited in South Africa, but trading of its shares had been suspended since March 24, 2017.
Rockwell said it was still in discussion with investors to dispose of its investment in its Cayman Island subsidiary, N9C whose main asset was the shares of Rockwell RSA.
“This transaction is contingent on the successful acquisition of all claims by the same investor/s of all the claims in all three subsidiaries,” it said.
“The proceeds from such sale will accrue to the company for purposes of settling with trade creditors of the company, and making an offer to shareholders to acquire their shares in a going private transaction.”

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished