De Beers only selling Elizabeth Bay Mine in Namibia, move to sustain operations beyond 2019

Namdeb Holdings, a 50/50 joint venture between the Namibian government and De Beers is not selling Daberas, Sendelingsdrift and Southern Coastal mines in the southern African country. It had been alleged that Namdeb was planning to close and offload...

Yesterday

Colorless diamonds as an investment class are evolving beyond their traditional ability to preserve, relocate and pass on wealth

Antonio Cecere, the Founder & VP of Monaco Diamond Exchange dons many caps simultaneously. Currently, he is the President of Geneva Diamond Exchange, the President of Diamond Investment Club and the Principal of the Cecere Group. Antonio’s ability to...

15 april 2019

Jewellery with diamonds, even with small ones, sells better than without diamonds

The Yakut jewellery firm Kierge was set up 25 years ago on the basis of the jewellery workshop PKF Yakutrembyttekhnika which, in its turn, was founded way back in the 1970s. Over this period, Kierge turned into a well-established company successfully...

08 april 2019

Lucapa’s Wetherall on the past, present and the future

Lucapa Diamond chief executive Stephen Wetherall recently attended a mining conference, in Cape Town South Africa, where he met Rough & Polished’s Mathew Nyaungwa and granted him an exclusive interview. They discussed Angola’s first international diamond...

01 april 2019

India’s gem and jewellery industry expects the government will consider its demand for lower import duty on raw materials

A go-getter at heart, with an attitude to match, Pramod Kumar Agrawal, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a man in a hurry. He has not left any stone unturned to bring back the Indian gem & jewellery...

25 march 2019

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