Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

Yesterday

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

Stornoway Diamond Corp reports loss from profit a year earlier

16 september 2009

Canada's Stornoway Diamond Corporation reported a loss of $682,000 for the current quarter compared with net income of $11.7 million a year earlier, according to www.antwerpfacetsonline.be.
Even taking into account an unrealized gain from the sale of an investment, its loss was $618,000, the firm announced in an interim financial report.
Meanwhile, Stornoway's deficit during the quarter rose 34 percent to $67.5 million.
"As an exploration stage company, it is currently unable to self-finance its operations," the firm said. "The recovery of the company’s investment in its resource properties and attainment of profitable operations, and its ability to continue as a going concern is dependent upon the discovery, development and sale of diamond reserves, the ability to joint venture or sell its resource properties and the ability to raise sufficient capital to finance its operations," according to the company's financial statement.
The company said its management plans to seek additional financing, through equity financings, the sale of non-core assets or through other means to further the exploration and development of properties and to provide sufficient working capital. However, the firm stressed, there "is no assurance the company's management will be successful in these endeavors."
Stornoway said it would need to secure "some form of additional financing to continue operations into 2010."