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

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

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Stellar Raises $4M, Plans Valuation of Kono Diamond Shipment in Antwerp

04 february 2009

Stellar Diamonds, a subsidiary of Mano River Resources, raised GBP 3.05 million ($4.3 million) in a pre-IPO non-brokered placement of 15,248,490 new ordinary shares, Mano reported Monday. In addition, Stellar settled a GBP 678,192 ($956,251) debt with Mano through issuing almost 3.4 million shares at 20 pence each. Proceeds from the placement will be used to continue development of near term production projects at the Kono underground project in Sierra Leone with joint venture partner Petra Diamonds, and its Mandala alluvial diamond project in Guinea, RAPAPORT reported. Stellar will fully fund the Kono project in 2009 and reinvest revenues. Petra holds the option to reimburse Stellar 51 percent of the project costs at the end of this year to maintain its 51 percent equity in the project. 
In light of the difficult market conditions, however, Mano's board placed Stellar's current exploration projects on care and maintenance in the short term until it generates cash revenues and is self-financed. So far, 3,159 carats have been produced at Kono and Stellar is preparing to export 1,892 carats to Antwerp for valuation. The company could hold a sale in March in order to test marketing conditions. Karl Smithson, CEO of Stellar, said, "We are very encouraged by the continued support demonstrated by our shareholders for the company despite these difficult market conditions. The proceeds from the Pounds Sterling three million financing will enable Stellar to realize its near term objectives of generating cash flow from diamond revenues from two of our key projects in 2009 and beyond."