Botswana Diamonds’ Campbell on Alrosa exit: no exploration JV lasts forever

Botswana Diamonds is currently in talks with a major diamond producer interested in taking over a stake in Sunland Minerals previously owned by Alrosa. The Sunland joint venture was established in 2014 to test existing Alrosa exploration technology on...

19 november 2018

If real gems are replaced by artificial stones, it is not the difference in value that sellers may cheat you out, but the very idea that you are to obtain along with a jewelry piece made from a genuine stone

Elena Titova is the Director of the All-Russian Decorative Art Museum. The museum, which she heads, was founded fairly recently (less than 40 years ago), but it is one of the most popular and stylish museums of Moscow, famous, among other things...

12 november 2018

“We'll only work with mines and suppliers that can prove full and unquestionable traceability”, assures David Zabinsky, CEO, TRIGEM

Armed with a Bachelor of Science in Government & Legal Studies, and Spanish from Bowdoin College (Maine, USA), a multi-faceted professional, David Zabinsky has both international public and private sector experience, most recently managing an...

06 november 2018

The diamond market sentiment is cautious at the moment, especially in Europe

Born in Switzerland, Angelika Mavridou relocated to Thessaloniki (Greece) with her family, only to establish her own business JEWELLS GALLERY LTD, which was later transformed to S.A. Prior to venturing into her own business, she studied Gemology...

29 october 2018

Zimnisky talks about pink diamonds, De Beers’ Lightbox

An independent diamond industry analyst and consultant said although exceptional and ‘one-off’ diamonds are hard to assign a value to them, the Pink Legacy will likely fetch $2.64 million per carat when it goes under the hammer next month in Geneva...

22 october 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