Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

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Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

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There is a significant need for smart and technological financial solutions in the diamond industry

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30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

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23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

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16 august 2021

Firestone shareholders approve plans to delist from London’s AIM

13 march 2020

Firestone Diamonds shareholders have approved the company’s plans to delist from London’s AIM.
The diamond junior recently said the benefits and challenges of maintaining its listing on AIM are no longer in the best interests of the company and its shareholders. 
“The company confirms that the last day of dealings in the company's ordinary shares will be 25 March 2020 and admission to trading on AIM of the company's ordinary shares will be cancelled at 7.00am on 26 March 2020,” it said. 

                         Image credit: Firestone

Firestone said it would put in place a matched bargain facility with JP Jenkins to assist shareholders to trade in the ordinary shares from the date of cancellation. 
JP Jenkins is part of Peterhouse Capital.
The company previously said that it also wanted to reduce the size of its board following a review of the company’s costs and expenses. 
Firestone said it was suffering from a lack of liquidity in trading of its ordinary shares due to the bondholders holding 65% of the issued ordinary share capital, and in addition, two minority shareholders hold about a further 18%. 
This, combined with the poor diamond market and general negative sentiment towards the sector, had resulted in a material share price and consequent market capitalisation decline.  
It said although the diamond market had the potential to improve, it will now take longer than had been previously anticipated. 

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