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

Rockwell Diamonds Posts C$13m Yearly Loss

29 june 2009

Rockwell Diamonds has announced the loss of C$13-million during the 12 months ending on February 28. It added that it has continued to incur losses subsequent to year end, reported.
Rockwell Diamonds, which mines high-value diamonds in South Africa, saw a sharp drop in revenue at the end of 2008 due to the international financial crisis.
The company has also been involved in a battle with shareholder Pala Investments Holdings, which launched a proxy contest to have the company's board replaced and the shareholder rights plan removed. Rockwell shareholders voted down both bids last week.
Rockwell Diamonds’ board is now striving to raise C$4-million to keep it afloat.  At the end of the fiscal year, the company's current assets exceeded its current liabilities by $0.6-million. Total assets exceeded total liabilities by $70.4-million.
Rockwell stated: “The risk that cash and working capital will not be sufficient to fund the continuing losses indicates that a material uncertainty exists which may cast substantial doubt on the ability of the company to continue as a going concern.”
The diamond company’s directors have initiated a process towards either a rights offering or a private placement. They stated that they have “identified and communicated with current investors and potential new investors to ensure that the desired investment is raised.”