Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...


GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

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...

13 september 2021

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...

06 september 2021

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

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

Diamcor misses extended deadline to file financial statements, appeals for management cease trade order

14 september 2020
                                           Image credit: Diamcor Mining

Diamcor Mining has missed the extended deadline to file its audited financial statements and corresponding management’s discussion and analysis for the year ended March 31, 2020.
The diamond junior recently said that due to the novel coronavirus pandemic it had determined to follow the British Columbia Securities Commission Blanket Order 51-517 and similar exemptions provided by the Alberta Securities Commission, which provides the company with an additional 45-day period to complete the Annual Filings. 
The Blanket order allows for temporary exemption from certain corporate finance requirements with deadlines during the period from June 2 to August 31. 
It then said that it was working with its auditors and expects to file the annual filings by September 14, 2020 and the interim filings prior to the extended 45-day deadline of October 13, 2020.
However, Diamcor said the September 14 deadline was difficult to meet due to the inability to complete the South African portion of the company’s annual audit in normal time frames as a result of ongoing travel and work restrictions.
It also blamed the failure on the Canadian auditors’ inability to complete their audit due to reliance on the finalisation of audit work in South Africa, and the requirement for Canadian auditors to obtain information from South Africa by alternative methods.
Some of the requested supporting documentation was not in the control or direction of the company and consequently Diamcor was unable to fulfill the auditor’s request prior to the filing deadline for the financial disclosure.
“The company anticipates that it will be in a position to file its financial disclosure before October 15, 2020,” it said.
Meanwhile, Diamcor said it had filed an application with the British Columbia Securities Commission and the Alberta Securities Commission requesting that they issue a management cease trade order against the company’s directors, officers and/or insiders instead of a cease trade order against the company and all of its security holders.

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