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

SA diamond miner W4U liquidated

14 may 2009

Reports say that South Africa’s West coast marine diamond miner Wealth 4 U Mining & Exploration has been liquidated. 
Fin24.com quoted Ranel Financial Trust liquidator Johan Nel as saying that a final liquidation order was granted over W4U late April after an application by shareholders. 
“It is still not clear how much funding W4U raised from the public, but it seems individual boat owners that mined in shallow waters were convinced to sell their assets into the company in exchange for scrip,” it reported.
W4U's original aim was to consolidate smaller mining outfits around the West Coast into a larger operating entity that would have the economies of scale to produce a high yielding return. 
Fears were high that W4U's 1 700 shareholders would probably get a blank cheque from the liquidation proceedings with Nel reckoning that W4U's assets at best top around ZAR7 million (USD1=ZAR8.36). 
 "It's not a pretty picture... some of the assets have been lying around near Port Nolloth for almost two years. Things are rusty and many are 'non-runners," Nel was quoted as saying. 
Questions had been raised around W4U’s high dividend promises, ambitious production targets and the claims around securing shareholder value through a listing. 
W4U once claimed that it had a potential to harvest over 100 000 carats per year, giving a gross annual income of ZAR220m and a net dividend of close to 3 percent per month. 
Its short term target was for 900 carats a month from share-based operations and 1 000 carats a month from boats - production that supposedly would yield annual revenues of ZAR45m. 

Mathew Nyaungwa, Rough&Polished from Namibia