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...


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

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

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

Gem Diamonds reduces net debt position by $6.6 mln

03 november 2020
Image credit: Gem Diamonds

Gem Diamonds says it reduced its net debt position by $6.6 million in the third quarter of 2020, ending the period in a net cash position of $1.1 million. 
The company had a net debt of $5.5 million in the first half of the year.
Gem said it ended the quarter with $24.5-million cash on hand, excluding $29.8 million of the September tender proceeds received after the period end.
It sold seven diamonds for more than $1 million each, generating revenue of $25.6 million during the period, bringing the total number of diamonds sold for greater than $1 million to 24 for the year to date.  
The company also recorded an average price of $2, 215 per carat in the third quarter compared to $1 714 in the first half of 2020.
Gem Diamonds chief executive Clifford Elphick said the average price of $2 215 per carat demonstrates the improved demand for Letšeng's high-quality large diamond production.
"These prices achieved (on a like for like basis) are higher than those realised in the pre-Covid-19 market conditions of H2 2019," he said.
"This, together with the continued pro-active cost control and cash preservation measures implemented across the Group, has resulted in continued positive cash flow for the Group."
The company produced 29 127 carats in the third quarter, bringing the year to date output to 72, 403 carats, which is 14% weaker compared to 84 207 carats, a year earlier.

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