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

Lazare Kaplan Delays Annual Report

09 september 2009

Diamond manufacturer Lazare Kaplan International has delayed reporting its annual results for the fiscal year that ended May 31, 2009. The company explained in a Security Exchange Commission (SEC) filing that it was unable to timely file the report due to its inability to resolve a material uncertainty concerning the collectability and recovery of certain assets, as well as the company’s potential obligations under certain lines of credit, RAPAPORT reported.
“The company is unable to assess the potential effect the ultimate resolution of these matters will have on the financial position and results of operation of the company,” Lazare Kaplan spokespersons said.
Lazare Kaplan anticipated that net sales for the year dropped 48 percent to $192 million. The company explained that the “current adverse market conditions” continued to impact the company and the global diamond and jewelry industry, which would be reflected in the final results.
“Diamond and jewelry purchases are ultimately dependant on the availability of consumer discretionary spending,” company spokespersons explained. “Uncertainties regarding future economic prospects and a decline in consumer confidence during Fiscal 2009 translated into lower purchases and sales by diamond retailers, wholesalers and producers and adversely impacted the company's operations.”
Lazare Kaplan’s results for the first three quarters showed a net loss of $6.4 million, compared with profits of $4 million one year ago. The company’s shares fell 5.6 percent in the week following the announcement to close Friday at $2.51 a share. They traded at $7.73 per share a year ago.