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

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

Diamond junior Archangel financing plan collapsed

06 may 2009

Archangel Diamond says that a plan to sell convertible notes and restructure debt will not proceed and is now looking for alternative financing to meet its obligations.
South Africa’s currently hold approximately 58 percent and 19 percent respectively of the corporation’s 85.0 million issued and outstanding shares.
Archangel Diamond announced on March 20 that it planned to enter into nonbinding term sheets with the two shareholders, regarding a proposed non-brokered private placement of an aggregate of CAD6-million in unsecured, convertible notes.
At the same time, the firm said it planned to enter into a debt restructuring arrangement with De Beers to settle CAD12, 3-million in debt in exchange for Archangel shares and notes.
If the deal had sailed through De Beers and Firebird were set to increase their stake in Archangel to about 72 percent and 24 percent respectively.
The funds raised would have also enabled the company to “meet its normal running costs”, including interest payments owed to De Beers, and to continue with its current activities, it said.
Archangel last year also agreed to pay up to USD225-million for a 49, 99 percent stake in the Russian Verkhotina diamond project.
However, the company later said that it was terminating the agreement with the Russian oil and gas giant Lukoil, because of severe changes in the world diamond market, and failure to meet  certain conditions of the deal.

Veronica Novoselova, Rough&Polished African bureau editor in Namibia