Dunnedin Ventures Inc. (TSX.V:DVI) September 6, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (TSXV:DVI) is pleased to report final diamond recovery results from the Notch kimberlite.  The second, 1.30 tonne sample of Notch returned 49 commercial-sized stones (+0.85 mm) totalling 1.29 carats, for a sample grade of 0.99 carats per tonne. The largest recovered diamond was a 0.23 carat clear and colourless octahedral stone.  Results are provided in the table below along with an image of the two largest stones.

Table 1: Diamonds recovered from the Notch kimberlite

Sample	Weight in Dry Tonnes	Total Number of Diamonds Recovered (+0.425 mm)	Total Carat Weight (+0.85 mm)	Endecott Sieve Size (mm)
				0.425	0.60	0.85	1.18	1.70	2.36	Sample Grade (cpt)	Largest Diamonds (carats)
Notch 1	1.02	278	0.66	175	67	26	8	2	0	0.65	0.10, 0.08, 0.05
Notch 2	1.30	318	1.29	179	90	33	11	3	2	0.99	0.23, 0.17, 0.09

We continue to be impressed with the quality of diamonds recovered from our kimberlites,” said Chris Taylor, CEO of Dunnedin, “Till samples, drilling and geophysics all suggest Notch may have up to double the 2.6 kilometre strike length that was used to calculate its published potential for 2 – 5 million carats of commercial sized diamonds as reported in our NI 43-101 compliant Inferred Resource and Target for Further Exploration.  Notch therefore presents an attractive target with significant potential for further resource expansion and bulk sampling.”

Most of the Notch diamonds recovered by Dunnedin are clear and colourless variants of octahedra. On January 26, 2015, Dunnedin published a NI 43-101 compliant Inferred Resource for Notch prepared by APEX Geoscience Ltd. (“APEX”) with the following highlights:

• 829,000 carats of diamonds;
• at a grade of 0.90 carats per tonne (+0.85 mm);
• from 921,000 tonnes of rock;
• based on very shallow test drilling of typically less than 80 metres depth;
• across 2.6 kilometres of strike;
• remains open to extension along strike and at depth

Dunnedin followed with publication of a Target for Further Exploration (“TFFE”) that provides additional potential tonnages and contained carats that are not yet included in the Notch Resource, also prepared by APEX (see Dunnedin news release of March 31, 2015) of an additional 1.10 to 4.05 million carats based on a range of possible grades and depth extents.  Note that the TFFE conservatively does not include any consideration of potential additional strike extent.

Table 2: TFFE for Notch as prepared by APEX Geoscience Ltd.

Low Range				High Range
Depth Range (m)	Tonnage	Grade (cts/t)	Total Carats	Depth Range (m)	Tonnage	Grade (cts/t)	Total Carats
110‐300	1,570,000	0.70	1,100,000	110‐600	4,050,000	1.00	4,050,000

 

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Diamcor Mining (TSXV:DMI) has announced that further to its news release of August 23, 2016 announcing a brokered private placement financing  of up to 4,545,455 units at a price of CDN$1.10 per Unit for gross proceeds of up to CDN$5,000,000, the has closed the offering with an oversubscription of 746,090 units resulting in the issuance of an aggregate 5,291,545 units for total gross subscription proceeds of CDN$5,820,700, with over 90 percent of the units being acquired by institutional investors

As quoted in the press release:

Each Unit consists of one common share (a “Share”) of the Company, and one-half of one common share purchase warrant (a “Warrant”).  Each whole Warrant will entitle the holder thereof to purchase one Share at an exercise price of CDN$1.60 until August 31, 2019.  The Shares and Warrants are subject to a hold period ending on January 1, 2017.

The Company also announces that, pursuant to the terms and conditions of an Agency Agreement between the Company and Echelon Wealth Partners Inc. (“Echelon”), the Company has paid an aggregate cash commission of CND$326,999.97 to Echelon, representing 6% of the gross proceeds received from subscribers introduced to the Company by Echelon.  In addition, the Company has issued an aggregate of 297,273 non-transferable warrants to Echelon (the “Echelon Broker Warrants”), representing 6% of the number of Units sold to subscribers introduced to the Company by Echelon.  Each Echelon Broker Warrant entitles the holder to purchase one Share of the Company at an exercise price of CDN$1.60 until August 31, 2019.  The Echelon Broker Warrants will also be subject to a hold period ending on January 1, 2017.

The Company further announces that, as part of a non-brokered portion of the Offering, the Company has paid to certain finders an aggregate cash commission of CDN$10,230, representing 6% of the gross proceeds received from subscribers introduced to the Company by such finders, and has issued an aggregate of 9,300 non-transferable warrants to such finders (the “Finder’s Warrants”), representing 6% of the number of Units sold to subscribers introduced to the Company by such finders.  Each Finder’s Warrant entitles the holder to purchase one Share of the Company at an exercise price of CDN$1.60 until August 31, 2019.  The Finder’s Warrants will also be subject to a hold period ending on January 1, 2017.

Click here to read the full press release.

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Kennady Diamonds Inc. (TSXV:KDI) announced that all but one of the latest drill holes completed since the last update dated August 11, 2016 have intersected kimberlite on its summer drilling program on the Kennady North Project in the Northwest Territories. immediately adjacent to the Gahcho Kué diamond mine.

As quoted in the press release:

All but one of the latest drill holes completed since the last update dated August 11, 2016 have intersected kimberlite. In this latest round of drilling, Faraday 2 returned a 30.3m intersect of continuous kimberlite, with Faraday 3 producing three separate intersects of 18.3m, 20.7m and 28.7m.

President and CEO of Kennady Diamonds, Dr. Rory Moore commented: “Our exploration model continues to be validated at Kennady North, with eight of the nine latest drill holes intersecting kimberlite. We are pleased with our results to date and expect additional kimberlite to be intersected as we continue our summer program.”

Click here for the full press release.

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August 31, 2016 / TheNewswire / Vancouver, BC, Canada. – Dunnedin Ventures Inc. (TSXV:DVI)  is pleased to announce the start of field investigations and to provide permitting updates for its Kahuna project, located near Rankin Inlet, Nunavut. Field crews are currently collecting approximately 1,000 till samples across the Kahuna property. This is ten times the number of samples collected during Dunnedin’s 2015 program, which successfully applied exploration and diamond indicator mineral classification techniques pioneered by Dunnedin’s advisor Dr. Chuck Fipke to define a number of new potentially diamond-bearing kimberlite targets.

Chris Taylor, Dunnedin’s CEO stated, “Our 2015 till program was a highly successful but focused orientation survey of only 118 samples. That work identified several new targets consistent with our known diamond-bearing kimberlites, including both dike and pipe targets, and extensions to known diamond-bearing kimberlites. We anticipate that this summer’s 1000 sample program will define additional targets and will allow us to accurately prioritize sites for upcoming drilling and bulk sampling.”

The 2016 field program has an estimated budget of $350,000, which is kept low by infrastructure and service advantages associated with the project’s location near both Rankin Inlet and Chesterfield Inlet.

The Company is currently completing diamond recoveries from the Notch, PST and Kahuna kimberlites sampled in 2015, along with processing of the 2015 till samples for potential gold content. Results will be issued as received. It is anticipated that processing of the 2016 till samples will be completed in time to guide the upcoming winter program in 2016 – 2017.

Permitting Update

The Company is also pleased to report that Indigenous and Northern Affairs Canada (INAC) has endorsed modification and resubmission of the Company’s multi-year exploration permit application to the Nunavut Impact Review Board (NIRB). In a letter addressed to NIRB dated August 2016, INAC stated, “We are pleased to hear that Dunnedin Ventures Inc. has already taken steps to address the concerns raised by the Board in its Screening Decision Report, including engaging in community consultation activities, and that it plans to submit a revised Project proposal.”

In April 2016, NIRB recommended to INAC that the Company should either modify and resubmit, or alternatively abandon its multi-year exploration permit application, and provided a list of required steps to complete prior to resubmission. INAC’s decision to support resubmission rather than abandonment streamlines the permitting process and allows the Company to focus on implementing NIRB’s suggestions within the framework of the existing application. Dunnedin has recently completed all suggested steps, and plans to resubmit its application to the Nunavut Planning Commission over the coming weeks. Current permits allow the Company to continue sampling work through 2017 – 2018.

Connect with Dunnedin Ventures Inc. (TSXV:DVI) to receive an Investor Presentation.

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Fancy colour diamonds have become more popular as an investment choice to protect and grow wealth, and it’s not just because they look nice.

Since 1959, coloured diamonds haven’t decreased in wholesale price and can increase upwards of 10-15 percent in value every year.

Recently, the Investing News Network (INN) had the chance to speak with Jeremy Wiseman, vice president of Guildhall Diamonds to discuss a number of things in the fancy colour diamond sector, including:

• why investors should consider fancy colour diamonds as an investment
• what to be aware of when looking to invest in diamond companies
• what colour of fancy diamonds  first time investors to consider
• what makes colour diamonds rare
• why demand for blue and pink fancy colour diamonds is on the rise
• why yellow demands are being affected by US demand
• if diamonds are a safe investment with the upcoming presidential election
• how long an investor should hold onto a fancy colour diamond before selling it
• what investors should keep in mind when they go to sell their fancy colour diamonds
• a look at what the diamond market looks like going forward, according to Wiseman

Below is a transcript of our conversation. It has been edited for clarity and brevity. Read on to see what Wiseman had to say.

INN: Why should investors consider fancy diamonds as an investment?

JW: The economy is in uncharted territory. Central banks have created so much monetary stimulus and they are also keeping rates very low. So there is definitely a growing lack of faith in economic structures and investors are seeking alternatives that protect and grow wealth. What’s great about hard assets like natural fancy colour diamonds is that they have zero counter-party risk. So for investors wanting to protect and grow wealth, this alternative asset can provide exactly what they need.  

High quality natural fancy colour diamonds are very rare. For example, each year we may only see four or five internally flawless vivid yellow diamonds that are over one carat. Pink diamonds that are of [very slightly included] VS quality can be just as difficult to find. The lack of supply keeps prices steady and on the rise. So, I think that investors with a long-term outlook who want consistent growth should consider a natural fancy colour diamond as part of their portfolio.

INN: What should investors be aware of when looking to invest in diamond companies?

JW: There are actually no specific colour diamond mines. So if an investor was looking for exposure to the colour diamond market it is going to be difficult. Investing in diamond companies can be very profitable; however, we find that our clients like the fact that there is no counter-party risk associated with owning an investment-grade loose colour diamond.

INN: Are there specific colours that first time investors should consider over others? Why or why not?

JW: Fancy yellow diamonds over one carat in size and internally flawless are still quite affordable and make a great entry level into the market. Five years ago an internally flawless yellow could be purchased for about $8,500 CAD. Today, these diamonds would cost around $15,000 CAD. Fancy pink diamonds at the quarter carat mark and of VS quality also make for a great first acquisition. These can still be found well under $30,000 CAD. Of course, you would have to find one first.   

INN: What makes colour diamonds more rare than white diamonds?

JW: It is true that white diamonds are a luxury item but, compared to natural fancy colour diamonds, white diamonds are not rare. Anyone can go online and find hundreds of one carat, D colour, and internally flawless white diamonds. On the other hand, one would be hard pressed to find three or four internally flawless vivid yellow diamonds, for example.

INN: Demand for blues and pinks is on the rise – what is driving that?

JW: There is a very low supply of blue and pink diamonds so any increase in demand is going to be felt stronger. As appreciation for colour diamonds grow, investors are less willing to let go of these assets. So what you have is a combination of low supply, rarity, and growing understanding of the market. This all translates to stronger demand and rising values.  

INN: I read that yellow fancy diamonds are being affected by “sluggish US demand” – why is that?

JW: Lower quality fancy yellow diamonds are the most common of the colour diamond spectrum. For this reason they can be affected by the white diamond market. So, this makes sense that fancy yellows could be affected by sluggish demand. In my experience, high-grade yellow diamonds are not sensitive to the white market.  

INN: With the presidential election coming up and rumours of the Feds raising interest rates, are diamonds a safe investment?

JW: The short answer is yes, diamonds are safe investment. Regardless of the outcome of the election colour diamonds will continue to increase because of their rarity. Colour diamonds have increased steadily over the last several decades while the world has seen its share of ups and downs. In terms of rates, the Fed has met over twenty times in the last few years and only raised rates by a measly quarter percent. It seems that the Fed cannot actually afford a rate hike less they tank the economy. It also seems that the Fed needs to lower the value of the dollar to try to pay its debt. Ultimately investment-grade colour diamonds perform well in all economic cycles.

INN: Is there a certain time frame you suggest for holding onto diamonds before selling them?

JW: There is no doubt that colour diamonds benefit from time. The longer one can hold the diamond the better the gains. That said, the larger the investment the less time an investor would need to hold because extremely rare diamonds increase in value at a greater rate. So, if possible, it is a good idea to move up to rarer diamonds over time. Within the first five years investors should get a good sense of the trajectory and can better assess how long they wish to hold.

INN: When investors are looking to sell their fancy diamonds, what are the key things they should be aware of?

JW: Investment-grade natural fancy colour diamonds have proven themselves to be a safe and profitable investment over the long term. The trade-off of course is that they are not considered a liquid asset. I have seen diamonds sell in a day or take over a year. Anyone wishing to sell their colour diamond should definitely give themselves time to find a buyer. They should also have room to negotiate with the next buyer. If the diamond has been held for a sufficient period there should be plenty of room for everyone to win.

INN: Looking, ahead what is your outlook for the diamond market this year and in 2017?

Overall there will be a continuation of some trends that have already been established. For instance, retailers will continue to inch into this market bringing about more awareness. We have seen that yellow diamonds for engagement rings are a strong trend set to continue as brides seek out ways to express their individuality. In the investment-grade area we expect very high quality colour diamonds to be increasingly difficult to find. Lastly, we see the trend amongst investors turning to alternative assets like colour diamonds to protect and grow their wealth continuing.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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Dunnedin Ventures Inc. (TSXV:DVI)  has closed a non-brokered private placement previously announced on Aug. 4, 2016. The company has raised gross proceeds of $1.3-million.

The placement consisted of 13 million units at a price of 10 cents, with each unit consisting of one common share and one common share purchase warrant entitling the holder to acquire one additional common share at a price of 15 cents per share for a period of 24 months. The common share purchase warrants are subject to acceleration at the company’s discretion in the event the company’s common shares trade on a volume-weighted-average-price basis of 25 cents or more for a period of 10 consecutive trading days. Insiders participated for a portion of the placement. Proceeds will be used to advance the company’s Kahuna project and for general working capital purposes.

Connect with Dunnedin Ventures Inc. (TSXV:DVI) to receive an Investor Presentation.

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(IDEX Online News) – A Philippines fisherman claims to have found a 34kg natural pearl which would be the biggest pearl ever found if confirmed.

 

The fisherman says he kept it hidden under his bed for more than 10 years.

 

The huge pearl is 30cm wide and 67cm long.

 

If it is eventually confirmed to have formed within a giant clam and thus be natural, it could be worth more than $100 million.

 

The man, from Puerto Princesa on Palawan Island, says he found it while fishing after his boat’s anchor got caught on the giant clam. The man says he had to swim down to dislodge it.

 

He was not aware of its potential value but kept it as a good luck charm, according to media reports.

 

When he moved to another part of the province, he gave it to his aunt who works as a tourism officer.

 

The pearl is now on display in the atrium of the New Green City Hall in Puerto Princesa.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) dropped slightly last week by 0.54 percent to 833.11. 

Year-to-date, however, the index is still up 58.49 percent, or a jump of 307.45 points.

A number of companies on the TSXV saw strong weekly percentage gains as well, with some rising 75 percent over the five-day period.

The top five gainers for the week were:

• Tango Mining (TSXV:TGV)
• Fjordland Exploration (TSXV:FEX)
• Rambler Metals and Mining (TSXV:RAB)
• Foran Mining (TSXV:FOM)
• Iberian Minerals (TSXV:IML)

Here’s a closer look at those companies:

Tango Mining

Coming in at the top of last week’s TSXV top 5 list is Tango Mining, whose shares rose 75 percent over a five-day period to $0.105.

Tango Mining has a portfolio in coal and diamond projects in South Africa. On August 13, the company announced it had received approval to acquire an additional interest in three private South African companies, in which Tango already owns a 51 percent interest.

Fjordland Exploration

Fjordland Exploration has historically focused on the discovery of gold and copper deposits in British Columbia, however it has turned its attention to nickel and cobalt deposits in Quebec and diamond bearing kimberlite targets in the Athabasca Basin.

Last week, shares of Fjordland Exploration rose 45 percent to close the week out at $0.145.

Rambler Metals and Mining

Third on last week’s top 5 TSXV stocks is Rambler Metlaes and Mining, whose shares gained 28.57 over a five-day period to $0.09.

The company has 100 percent ownership on the Ming Copper-Gold Mine in Newfoundland. On August 18, Rambler announced the implementation of a new 10 percent fixed compensation incentive stock option.

Foran Mining

Foran Mining’s shares saw a 34.88 percent increase last week to $0.29. According to its website, the company’s long-term strategy is to build and develop a base metal mining camp on its 100 percent owned McIlvenna Bay deposit.

Foran is currently focused on advancing its Hanson Lake VMS Camp in Saskatchewan.

Iberian Minerals

Closing out last week’s top 5 TSXV list is Iberian Minerals, who is focused on evaluating gold properties in the south western United States.

Last week, shares of the company rose 30.77 percent to $0.085.

Don’t forget to follow us @INN_Resource for real-time news updates!

Data for 5 Top TSXV Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.

Top TSXV stocks in recent weeks:

5 Top TSXV Stocks: Almadex Minerals Rallies 95.26 Percent

5 Top TSXV Stocks: Galway Metals Soars 187.5 Percent

5 Top TSXV Stocks: Sarama Resources Jumps 120 Percent

5 Top TSXV Stocks: Cava Resources Leaps 160.87 Percent

5 Top TSXV Stocks: Jayden Resources Leads the Way

5 Top TSXV Stocks: Renaissance Oil Leaps by 71.43 Percent

5 Top TSXV Stocks: Renaissance Oil Surges 133.33 Percent

5 Top TSXV Stocks: Armor Minerals Rises 127.27 percent

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Kennady Diamonds (TSXV:KDI) has announced the acquisition of six mining leases from GGL Resources (TSXV:GGL), which adjoin the southern border of the Gahcho Kue Mine.

As quoted in the press release:

The new leases comprise roughly 4,233 hectares, bringing the total land position for the Kennady North Project to over 71,000 hectares.  Maps showing the new land position can be seen on the Company’s website under Media Links.

President & CEO of Kennady Diamonds, Dr. Rory Moore said, “We are delighted with this acquisition. It is a natural extension to our portfolio and strengthens our land position within the Kelvin-Faraday Corridor. Although our primary focus will remain the Kennady North area, we look forward to testing kimberlite targets within the new leases, beginning with an in-depth review of the historical data.”

The six mining leases in the Kennady Lake area are located approximately 270 kilometers east-northeast of Yellowknife, Northwest Territories. They are adjacent to eleven mining leases acquired from GGL in 2013 that included the diamondiferous Doyle Lakekimberlite. Of particular interest on the new leases is the ‘Blob Lake’ target, located in an unnamed lake five kilometers southwest of the Gahcho Kué Mine. The anomaly is defined by indicator mineral and geochemical studies conducted by GGL in 2007 and lies exactly within the Faraday–Kelvin Corridor, making it a highly attractive target.

Click here to read the full press release.

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Pangolin Diamonds (TSXV:PAN) has announced that Gareth Penny has been elected to the board of directors as non-executive Chairman of the Board.

As quoted in the press release:

Mr. Penny has worked in various forms of mining over the past three decades.  For 22 years, Mr. Penny was with De Beers and Anglo American, the last five of which he was Group CEO of De Beers. Mr. Penny is currently non-Executive Chairman of MMC Norilsk Nickel, a world leader in nickel and palladium production and a leading producer of platinum and copper.  Mr. Penny also currently acts as non-Executive Director and RemCo Chairman of Julius Bär Holding Limited, a listed Swiss bank focused on wealth management.

During his tenure with De Beers, Mr. Penny was instrumental in reshaping not only the world’s largest diamond company, but also the diamond industry.  Mr. Penny was the prime architect in the change to the De Beers business model, which replaced over 100 years of supply-side management in the rough diamond business with demand-driven initiatives that have generated significant value creation for De Beers and the diamond industry.

Mr. Penny has had exposure across the diamond pipeline, spending time with geologists in the field, overseeing the development of new mining projects in Botswana, South Africa and Canada, managing mining operations in various countries, raising funds, and sorting, valuing and marketing diamonds.  Mr. Penny has also been heavily involved in reputational and governance enhancements in the diamond industry.

Click here to read the full press release.

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(IDEX Online News) – The latest data from the Fancy Color Research Foundation (FCRF) shows that fancy colored diamond prices nudged higher in the second quarter, after a relatively soft first quarter.

 

Blue and pink fancy diamonds drove the price growth showing a 1.1-percent and 0.7-percent increase respectively, and offset continued price declines for lower-cost (a 0.5-percent decrease), commercial yellow fancy diamonds. Overall, prices in the fancy color diamond category rose by 0.4 percent for the period.

 

Across color and size categories, the strongest performers during the second quarter were fancy intense and vivid blues and fancy vivid pinks across all carat sizes. The fancy vivid blue category saw an 8.6-percent price increase, driven largely by 1-carat and 5-carat stones. Sluggish demand for 3-carat and 5-carat fancy yellow stones led to a 3.7-percent drop.

 

On a year-over-year basis, the Fancy Color Diamond Index increased 0.5 percent compared with the second quarter of 2015 – with blue and pink fancy color diamonds showing a 4.1-percent and 1.7-percent increase, respectively. Meanwhile, fancy yellow diamonds dropped 3.5 percent over the same period.

 

“…unsurprisingly, fancy intense and fancy vivid color diamonds of all colors enjoy robust demand in the market, driven mainly by supply scarcity that is not likely to change in the foreseeable future,” said FCRF advisory board chairman Eden Rachimov. “The situation is different with commercial fancy yellow goods, which is being adversely affected by sluggish US demand.”

Kennady Diamonds (TSXV:KDI) has provided an update on the summer drilling program at its Kennady North Project.

As quoted in the press release:

All six of the drill holes completed to date have intersected kimberlite, with two drill holes at Faraday 2 and one drill hole at Faraday 3 intersecting over 30 meters of kimberlite. Both Faraday 2 and Faraday 3 have also been confirmed as extending from beneath Kennady Lake onto land.

President and CEO of Kennady Diamonds, Dr. Rory Moore commented: “We are delighted that kimberlite was intersected in all six drill holes completed to date, as the results confirm our exploration model that predicted both Faraday 2 and 3 would continue onto land. The drill holes on Faraday 2 have returned robust kimberlite intersections, and current drilling continues to track the body in a westerly direction. At Faraday 3 the northeastern margin has been established with our latest drill holes, and the next drill holes will define its southwestern margin.” Dr. Moore concludes, “Our systematic approach to expanding the Faraday bodies is exactly the same as that which expanded Kelvin to its present size. We have no doubt that as we continue, additional kimberlite will be discovered with this exploration model.”

At the Kennady North project, exploration and delineation drilling is presently being conducted from two land-based setups. One drill rig is focused on the Faraday 1-Faraday 3 kimberlite complex, and the second rig is active at Faraday 2. It is anticipated that over 8,000 meters of core drilling will be completed on the Faraday kimberlites by the end of the summer program, with the results incorporated into defining a diamond resource along the Kelvin – Faraday corridor.

Click here to read the full press release.

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Stornoway Diamond (TSX:SWY) has announced results for the quarter ended June 30, 2016.

As quoted in the press release:

Quarter ended June 30, 2016 Highlights

• Progress at the Renard Diamond Project continues in line with the planned schedule and budget.
• Incurred costs and commitments at the quarter-end totalled $682.0 million, or 88% of budget.
• Construction progress stood at 97.4% compared to the re-baselined plan of 95.2% at the end of the quarter. Ore processing commenced on July 15, 2016.
• On site manpower during the month of June averaged 356 workers, of which 19.9% were Crees of the Eeyou Istchee.
• Mining in the Renard 2-3 and Renard 65 open pits stood at 9,454,038 tonnes, or 102% of plan, with 859,498 tonnes of ore stockpiled.  Underground mine development stood at 1,842 meters, or 85% of plan.
• During the quarter, the process plant including the crusher, water treatment facility and process kimberlite load-out were fully commissioned.  At quarter-end, remaining project construction was focussed on completion of the processed kimberlite containment facility and development of the underground mine’s fresh air raise.
• For the three months ended June 30, 2016, the Corporation reported a net income of $5.8 million or $0.01 per share and $Nil per share fully diluted.
• Cash, cash equivalents and short-term investments stood at $137.4 million. Prior to their expiry on Friday, July 8, 2016, 91,912,732 common share purchase warrants, representing 97.47% of the warrants issued on July 8, 2014, were exercised at a price of $0.90 per share for total proceeds to the Corporation of $82.7 million. This warrant exercise included 11.9 million warrants ($10.8 million in proceeds) exercised prior to June 30, 2016. Excess financing capacity available to complete the project, comprising cash, receivables, expected mine tax credits, and available credit facilities, is now forecasted to be $197 million, assuming the satisfaction of all covenants and conditions precedent relating to future funding commitments and a CAD$:US$ conversion rate of $1.25.

Click here to read the full press release.

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Honey Badger Exploration (TSXV:TUF) announced on March 4, 2016 that it was jointly named in  a statement of claim filed December 15, 2015 by Peter Liabotis, the former Chief Financial Officer for wrongful dismissal.

As quoted in the press release:

The Company and the plaintiff have come to a satisfactory resolution. Honey Badger trusts that Mr. Liabotis will have success in his future endeavours.

Click here to read the full press release.

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Dunnedin Ventures Inc. (TSXV:DVI) has appointed John Robins, PGeo, and Jim Paterson as strategic advisers to the company. The Company also announces a CDN$1.3 million non-brokered private placement.

Chris Taylor, Dunnedin’s CEO said, “We are thrilled to welcome Mr. Robins and Mr. Paterson as Advisors. Hunter Exploration Group, a private company co-founded by Mr. Robins, was the original mineral tenure holder at the Kahuna project during the early 2000’s, when over thirty million dollars in exploration were undertaken in the area. Mr. Robins’ history with the project and access to a proprietary database of historic results give him a unique perspective on the full potential of the property.”

Mr. Robins stated, “We are excited by the opportunity to get back to work in this area of exceptional discovery potential. Our previous work resulted in the discovery of diamond-bearing kimberlites, however additional high quality diamond indicator mineral trains remain unresolved, including new targets identified by Dunnedin. In addition, several gold-in-till anomalies were also identified. Given the proximity to Agnico Eagle’s three million ounce Meliadine gold deposit, both the gold and diamond potential of this project cannot be overlooked.”

Mr. Robins is a Professional Geologist with over 30 years’ experience in the mining industry, and recently oversaw the successful sale of Kaminak Gold Corp. as that company’s Executive Chairman. Kaminak was acquired by Goldcorp Inc. in July 2016 for in excess of $500 million . He remains a director of Kivalliq Energy Corp., Northern Empire Resources Corp., and West Melville Minerals Inc., and is also a Strategic Advisor to Great Bear Resources Ltd. He has been a driving force within the Vancouver mining sector as co-founder of Hunter Exploration, Stornoway Diamond Corp., Kivalliq Energy Corp., North Country Gold Corp. and Kaminak Gold Corp. Mr. Robins was also involved in the successful sale/merger of several public companies including Grayd Resources Corp. (Agnico Eagle), Troon Resources (Grenville Strategic Royalty), Arauco Minerals (Kinross), Creston Moly Corp. (Mercator) and Northair Silver Corp. (Kootenay Silver).

Mr. Paterson is a director and CEO of Kivalliq Energy Corp., which is actively exploring the Angilak uranium project in the same region of Nunavut as the Kahuna project, and until recently served as director of Kaminak Gold Corp. Mr. Paterson is also a director of Northern Empire Resources Corp. and a Strategic Advisor to Great Bear Resources Ltd. Mr. Paterson has 19 years of corporate experience with North American publicly traded companies, participating in acquisitions, joint-ventures, spin-outs, reverse transactions and IPO’s. Since January 2010, Mr. Paterson has been involved as an executive or as an active director of companies which have raised in excess of $175 million in equity financings.

Private Placement

Dunnedin also announces that, subject to regulatory approval, it will undertake a non-brokered private placement. Each unit will be issued at a price of $0.10 and will consist of one common share and one common share purchase warrant entitling the holder to acquire one additional common share at a price $0.15 per share for a period of twenty-four (24) months. The common share purchase warrants will be subject to acceleration at the Company’s discretion in the event the Company’s common shares trade on a volume weighted average price (VWAP) basis of $0.25 or more for a period of ten consecutive trading days. The Company will issue up to 13,000,000 units for gross proceeds of up to $1,300,000. Finder’s fees may be paid in accordance with Exchange regulations. Insiders may participate for a portion of the placement. Proceeds will be used to advance the Company’s Kahuna project, and for general working capital purposes.

Connect with Dunnedin Ventures Inc. (TSXV:DVI) to receive an Investor Presentation.

The post Dunnedin Ventures Adds Strategic Advisors And Announces Private Placement appeared first on Investing News Network.

The De Beers Group of Companies (51 percent) and Mountain Province Diamonds (49 percent) have announced that the Gahcho Kue process plant has been commissioned, and that ore from the mine is now being fed to the process plant to signal the formal ramp-up of diamond production.

As quoted in the press release:

The project remains on track to reach full commercial operation in the first quarter of 2017.

First ore was exposed at Gahcho Kué on 23 March 2016. The commissioning phase introduced ore into the Processing Facility from the Gahcho Kué pit on 20 June 2016 with the first commissioning carats being recovered on 30 June 2016. The mining operation has, to date, pre-stripped in excess of 20 million tonnes of waste material during the capital phase thereby ensuring sufficient exposed ore for production ramp-up.

Gahcho Kué, about 280km north east of Yellowknife in the Northwest Territories of Canada, is the largest new diamond mine under construction anywhere in the world. It is expected to produce an average of 4.5 million carats per annum over the life of the mine.

Kim Truter, Chief Executive Officer, De Beers Canada, said Gahcho Kué will have a significant impact on the diamond industry: “Gahcho Kué will not only strengthen De Beers in Canada, but ensure Canada remains the third leading diamond producer, by value, in the world. We are excited to see this project move into the production phase and must congratulate our Gahcho Kué team and thank our community partners for helping us deliver this world-class mine.”

Click here to read the full press release.

The post Gahcho Kué Begins Ramp-up to Production appeared first on Investing News Network.

Lucapa Diamond Company (ASX:LOM) and its partners, Endiama and Rosas & Petalas, have provided an update on its diamond production operations and exploration activities at the Lulo Diamond Project in Angola.

As quoted in the press release:

Production Highlights – July 2016 month

• Record recovery of 59 large Special diamonds (diamonds > 10.8 carats in weight)
• Record diamond production of 3,164 carats
• Record diamond grade of 15 carats per 100 cubic metres
• Record processing volumes of 21,114 bulk cubic metres (Bcm)

Exploration Highlights

• Drilling at kimberlite target L259 continues after early commissioning delays were experienced. Re-sedimented volcaniclastic kimberlite (“SRKV”), or crater lake sediments, were intersected in initial hole-drilling targeting pyroclastic kimberlite (“PK”).
• Additional larger drill rig scoped, identified and will be ordered shortly to accelerate kimberlite drilling program.
• New zone of terrace gravels identified from ongoing alluvial exploration-3km further upstream of the delineated JORC diamond resource, highlighting the potential for the entire 51km stretch of Cacuilo River at Lulo to host large alluvial diamonds.

Click here to read the full press release.

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(IDEX Online News) – Emerald, beryl, ruby and corundum miner, Gemfields plc, has reported its fourth quarter results for the 2016 fiscal year, ended June 30, which showed fluctuating production outputs.

 

Production of emerald and beryl from the company’s 75-percent owned Kagem Mining Limited in Zambia, showed a decline, falling to 7.2 million carats compared to 8.1 million carats over the same period in the prior year. Average grade also declined to 185 carats per ton compared to 222 carats per ton in the same period in 2015.

 

Annual gemstone production of emerald and beryl of 30 million carats from the mine was in line with company guidance and showed only a 100,000 carat decline compared to the year ended June 2015. Average grade slipped to 241 carats per ton compared to 242 carats per ton over the same period in the prior year.

 

An auction of predominantly commercial quality rough emerald in Jaipur, India, from May 17-20, generated revenues of $14.3 million at an average value of $5.15 per carat. Gemfields held four rough emerald and beryl auctions during the year, delivering auction revenues of $101.3 million at an overall average value of $12.22 per carat.

 

The company’s production of ruby and corundum at its 75-percent owned Montepuez Ruby Mining Limited in Mozambique, rose to 6.2 million carats compared to only 0.7 million carats in the quarter ending June 30, 2015. Average grade showed a dramatic increase, improving to 75 carats per ton compared to 9 carats per ton over the same period in the prior year, due to a greater proportion of higher grade ore being processed.

 

Annual gemstone production of ruby and corundum reached 10.3 million carats compared to 8.4 million carats for the year ending June 30, 2015, and beyond the company’s 8 million carats guidance. Average grade was 35 carats per ton compared to 26 carats per ton over the same period in the prior year.

 

An auction of mixed quality rough rubies was held in Singapore from June 13-19, and which generated revenues of $44.3 million at an average value of $29.21 per carat. During the financial year 2015-2016 Gemfields had two rough ruby and corundum auctions, which realized $73.1 million in revenues at an overall average value of $45.50 per carat.

 

Gemfields’ next auction of Kagem emerald and beryl is scheduled to take place in Jaipur in September, followed by an auction of Montepeuz rough ruby expected to take place in Singapore in December.

Pangolin Diamonds (TSXV:PAN) has provided an update for its wholly-owned Motloutse Diamond project located 150 km east of the Orapa Diamond Mine in Botswana.

As quoted in the press release:

A percussion drill programme will commence on July 27^th and is anticipated to be completed within the next two weeks. Results from the drill programme will be announced once all material submitted to laboratories in Canada have been analyzed.

The kimberlite targets are inclusive of AGA-01, an aeromagnetic and gravity anomaly associated with positive sub-angular kimberlite indicator minerals recovered at surface and MG-08 with an anomalous concentration of positive kimberlite indicator minerals recovered at surface, as both previously announced respectively (see releases May 31, 2016 and June 13, 2016).

The Motloutse Diamond Project covers the area where the first diamonds in Botswana were recovered in 1959.  It also includes the location where De Beers discovered its first diamonds in Botswana in 1962. The kimberlite source(s) of these diamonds have never been located.

Click here to read the full press release.

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Petra Diamonds (LSE:PDL) has announced its trading update for the year ending June 30, 2016 together with an updated analyst guidance through to June 30, 2017.

As quoted in the press release:

FY 2016 HIGHLIGHTS

·     FY 2016 production up 16% to 3.7 Mcts (FY 2015: 3.2 Mcts), above Company guidance of 3.6 – 3.65 Mcts.

·     FY 2016 revenue up 1% to US$430.9 million (FY 2015: US$425.0 million), mainly due to an increase in volumes sold, most notably tailings carats sold from the newly established Kimberley Ekapa Mining (“KEM”) operation, partially offset by softer diamond prices in FY 2016.

·     Rough diamond prices on a like for like basis down ca. 6% for the Year, compared to FY 2015. The market showed signs of recovery and stabilisation during H2 FY 2016.

·     Total FY 2016 operating costs for SA operations increased in ZAR terms mainly due to inclusion of KEM from 18 January 2016. Absolute costs remained in-line with expectations despite ongoing inflationary pressures. The weakening in the Rand for the Year had a positive impact on the Dollar reported operating costs; further detail will be given in the Prelim Results announcement.

·     FY 2016 Operational Capex (excluding capitalised borrowing costs) of US$294.2 million (FY 2015: US$252.0 million).

·     Cash at bank at Year end of US$46.1 million (30 June 2015: US$166.2 million); this figure excludes debtors from the June diamond tenders received shortly after Year end of US$60.2 million (30 June 2015: US$57.6 million).

·     Net debt at 30 June 2016 of US$387.4 million (30 June 2015: US$172.1 million); Petra expects to be within the required covenant ratios for the measurement period as at 30 June 2016.

Click here to read the full press release.

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The post North Arrow Reports Microdiamond Results and Completion of Till Sampling Program at Pikoo, Saskatchewan appeared first on Investing News Network.

Kennady Diamonds (TSXV:KDI) has announced the diamond recovery results from the 2016 Faraday 2 mini-bulk sample. The 21.1 tonne sample was recovered from two larger diameter reverse-circulation drillholes and processed by dense media separation at the Geoanalytical Laboratories Diamond Services in Saskatchewan.

As quoted in the press release:

Kennady Diamonds President and CEO, Dr. Rory Moore noted: “We are very pleased with the result from this mini-bulk sample, which is in line with our expectations from microdiamond test work. While the recovered parcel is not sufficient to obtain a statistically reliable valuation, the results confirm that the Faraday 2 kimberlite has the potential to host a high grade diamond resource.”

The large-diameter reverse circulation drill cuttings were screened during drilling at a 0.85mm square-mesh sieve screen cut-off. The DMS processing facility at SRC operated with a secondary cone crush set at 10mm and a re-crush high pressure grinding roll (‘HPGR’) set at 4 mm. The X-ray sorting and grease table circuits were not employed for Faraday 2 due to a high number of background minerals that are luminescent to x-rays. The DMS concentrates were instead further reduced by caustic fusion methods with diamonds in the final concentrates removed by hand sorting. Twenty natural diamond spikes ranging from 0.14 to 2.84 carats were used in the DMS test and all were recovered. Mr. Howard Coopersmith is Kennady’s Independent Qualified Person for the DMS processing and diamond recovery of Faraday 2 and oversaw all relevant aspects of the sample treatment.

Preliminary core logging and geological modeling for Faraday 2 has identified four kimberlite units (KIMB1-KIMB4), with KIMB1 as volumetrically dominant.  The present mini-bulk sample results are a small sampling of these lithologies and because of the small sample size, sample grades for the units could not be individually determined. Table 1 below summarizes the diamond recovery results from the 2016 Faraday 2 mini-bulk sample.

Click here to read the full press release.

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July 25, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (TSXV:DVI) is pleased to report the identification of new diamond-bearing kimberlite targets through till sampling at the Kahuna project. Till sampling results include identification of potential for:

• Extensions to known diamond-bearing kimberlite dikes
• New diamond-bearing kimberlite dike targets
• New diamond-bearing kimberlite pipe targets
• Diamond-bearing kimberlite sources in areas that historically produced nil results

Dunnedin’s CEO Chris Taylor said, “Using methods pioneered by our advisor Dr. Chuck Fipke and previously applied at Ekati, we have identified a number of new areas that are sourcing high quality diamond indicator minerals.  With the success of the 2015 test program, Dunnedin plans to expand its sampling over larger areas of the property to build, for the first time, an accurate picture of how many potential diamondiferous kimberlite sources are in fact present at Kahuna.”

2015 Till Sampling Program

In collaboration with its technical advisor Dr. Charles Fipke and director Mr. Chad Ulansky, the Company completed a glacial till orientation test sampling program in summer 2015, comprising 118 samples. Glacial till sampling recovers kimberlite indicator minerals (‘KIMs’) that were eroded from kimberlites by glaciers and deposited “down-ice”. This creates a train of positive till samples that can be tracked back to their original source.  It is used extensively in the Canadian Arctic as a primary exploration tool leading to most major diamond discoveries, one of the most famous examples of which is Ekati.

Dunnedin’s test program utilized the same sampling and mineral ranking techniques as applied at Ekati, which can predict the potential of kimberlites to host diamonds with a high degree of confidence. The ranking employs proprietary mineral chemistry filters developed at CF Mineral Research Ltd. (“CFM”) under the direction of Dr. Fipke.  Information on the sampling and ranking protocols are provided on Dunnedin’s web site atwww.dunnedinventures.com.

2015 Till Results

Historically, eighteen kimberlite pipes were drill-confirmed at the Kahuna project, along with a large number of kimberlite dikes.  During 2015, Dunnedin ranked historical KIM data through the CFM filters, identifying 29 new target areas, of which ten were tested with new sampling.  All returned KIMs in tills down-ice from the targets, supporting the presence of kimberlite, while eight of the ten target areas contain Diamond Indicator Minerals (‘DIMs’).  DIMs have specific chemistry that is observed in mineral inclusions inside of diamonds, and their presence in tills is strongly diagnostic of the diamond-bearing potential of the source kimberlite and is therefore prioritized by the CFM filters.

Results of Dunnedin’s 2015 program include:

• High DIM counts were confirmed in tills immediately down-ice from all tested diamond-bearing dikes including Kahuna, Notch and PST, confirming that diamond-bearing kimberlites are readily detectable using Dunnedin’s till sampling protocols.

• Potential diamond-bearing kimberlite pipes were identified in three new locations where DIMs in tills are directly down-ice from geophysical targets defined by circular coincident magnetic responses and resistivity lows. This geophysical signature is consistent with pipes that were historically drilled elsewhere on the property; however the new targets are apparent DIMs sources while the historically drilled pipes were not.  Dunnedin will analyze all historical data to determine the actual number of potential pipes, and which of these should also be tested down-ice for DIMs.

• Identification of apparent strike-length extensions to drilled diamond-bearing dikes, including Kahuna, Notch, PST and 07KD-24. Notably, 07KD-24 historically yielded an unprecedented 305 diamonds including seven commercial-sized diamonds (+0.85mm) from a drill core sample of 2.2 kilograms.  Very high DIM counts are present over 600 m of strike perpendicular to ice transport direction in the vicinity of 07KD-24, suggesting significant possible strike extent for this kimberlite.

• Many areas of the project have yielded significant DIM counts where historic till sampling produced nil results. These positive results are believed to be due to the more effective sampling protocols introduced to Dunnedin by Dr. Fipke.

• All 118 of the Company’s till samples contained KIMs, with 78 containing diamond indicator minerals. Dunnedin’s initial assessment based on geophysics, satellite imagery and past drilling that a dense kimberlite-intruded structural network is present on the project with over 180 kilometers of aggregate strike is also supported by the widespread KIM and DIM results (see Dunnedin news release of June 29, 2015).

A property-scale map of target areas and DIM counts is presented below, along with a summary table of results.  Maps of each new target area will be posted to the Company’s web site along with detailed DIM results.

Given the success of the pilot-scale till sampling program, the Company’s advisor Dr. Fipke has suggested a property-scale program should now be undertaken in order to identify all potential diamond sources.  The broader till sampling program is slated to begin in August 2016 and will progress in stages contingent upon results.

Connect with Dunnedin Ventures Inc. (TSXV:DVI) to receive an Investor Presentation.

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The S&P/TSX Composite index (INDEXTSI:OSPTX) rose steadily last week, finishing up 115 points at 14,600.66.

That’s the highest close for the exchange in four years, as Reuters noted. The TSX is now up 12.21 percent so far this year.

Gold, silver and copper prices finished the week fairly flat, but several mining companies still managed to record substantial gains for the week.

Companies up for the week included:

• Columbus Gold (TSX:CGT)
• Shore Gold (TSX:SGF)
• Stornoway Diamond (TSX:SWY)
• Tanzanian Royalty Exploration (TSX:TNX)
• Dundee Precious Metals (TSX:DPM)

Here’s a look at those companies:

Columbus Gold

Shares of Columbus Gold were up 17.46 percent last week to $0.74 per share. On Monday, the company announced results from the latest 11 drill holes from its Eastside gold project in Nevada. Highlights included an intercept of 97.5 meters grading 0.68 grams per tonne of gold. The company has completed 14,370 meters of drilling in 2016

Columbus also holds the Montagne d’Or deposit in French Guiana.

Shore Gold

Shore Gold announced this week that 2016 core drilling and geotechnical programs had been completed on the western margin of the Orion South diamond project.Shares of the company gained 13.16 percent to reach $0.215 last week. The core drilling program consisted of 8 holes totalling approximately 1,600 meters of drilling. The Star kimberlite at Orion straddles a boundary between Shore Gold’s property, and a property held by a joint venture between Shore and Newmont Canada.

Stornoway Diamond

Shares of Stornoway were up 12.75 percent to $1.15 per share last week. On July 15, the company announced that it had commenced ore processing at its Renard diamond project, marking the beginning of a processing ramp-up designed to achieve 100 percent of the plant’s nameplate capacity within 9 months. There was no new news last week to explain Stornoway’s share price rise.

Tanzanian Royalty Exploration

Tanzanian Royalty holds a number of development and exploration projects in Tanzania. In February 2016, the company’s subsidiary declared force majeure under its agreement with STAMICO, owned by Tanzanian Treasury, due to the invasion and forced occupation of its Buckreef site by several hundred illegal miners. The company announced on June 9 that it was looking to open negotiations with STAMICO in order to resolve the issue, and on June 16, the company stated it would begin testing its gravity circuit at Buckreef in order to restart production.

Tanzanian Royalty Exploration was up 11.19 percent last week to close at $1.49 per share

Dundee Precious Metals

Finally, shares of Dundee Precious Metals gained 10.7 percent last week to reach $3.93. The Canadian based, international gold mining company holds a producing gold, copper and silver mine in Bulgaria, a gold development property in southeastern Bulgaria, and a concentrate processing facility in Namibia. Dundee closed a $54.65 million bought-deal financing on July 11. However, there has been no further news to explain the company’s rise in share price last week.

Don’t forget to follow us @INN_Resource for real-time news updates.

Data for 5 Top TSX Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.

Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.

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July 19, 2016,  (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm) Lucara Diamond Corp. (“Lucara” or the “Company”), is pleased to announce that the Board of Directors has approved the return of Canadian $172 million to shareholders by way of a special dividend of Canadian $0.45 per share to the holders of the Company’s common shares. The special dividend will be paid in addition to the Company’s existing progressive 2016 quarterly dividend of Canadian $0.015 per share.

A total dividend payment of Canadian $0.465 per share is hereby declared and will be paid on September 15, 2016 to holders of record of the Company’s common shares at the close of business on September 2, 2016.

The payment of this dividend is consistent with the Company’s dividend policy providing for the payment of quarterly dividends and the payment, from time to time, of a special dividend based on revenues generated based on the Company’s overall financial position and other factors existing at the time under consideration. The payment of future cash dividends under the policy is subject to the Board’s continuing determination that the declaration of a dividend is in the best interests of Lucara and Lucara’s shareholders and is in compliance with all laws and agreements of Lucara applicable to the declaration and payment of cash dividends.

William Lamb, President and CEO of Lucara commented: “Lucara is rewarding its shareholders with a significant special dividend which is unprecedented in the industry and shows our commitment to rewarding our shareholders based on the Company’s success in generating strong financial returns.  The Karowe mine is a premier diamond deposit and continues to recover high quality stones, which is resulting in continued growth in the Company’s cash balance.  Following this dividend payment, we will continue to maintain a strong balance sheet and continue to seek value accretive opportunities, which includes advancing our exploration and drilling program to increase the Company’s resources”.

On behalf of the Board,

William Lamb
President and CEO

Lucara Diamond on Facebook

Lucara Diamond on Twitter

Lucara Diamond on LinkedIn

Lucara Diamond on Google+

Lucara Diamond on Instagram

For further information, please contact:

Sophia Shane, Corporate Development                       +1 (604) 689-7842, sophias@namdo.com

Sweden: Robert Eriksson, Investor Relations   +46 701-112615, reriksson@rive6.ch

UK: Louise Mason, Citigate Dewe Rogerson    +44 20 7282 2932,or +44 20 7282 2996,

Louise.Mason@Citigatedr.co.uk

About Lucara

Lucara is a well positioned diamond producer. The Company has an experienced board and management team with extensive diamond development and operations expertise. The Company’s main producing asset is the 100% owned Karowe Mine in Botswana. The Company also conducts exploration activities and holds two precious stone prospecting licenses close to its Karowe mine.

The information in this release is accurate at the time of distribution but may be superseded or qualified by subsequent news releases.

The information in this release is subject to the disclosure requirements of Lucara Diamond Corp. under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was publicly communicated on July 19 at 10:30 a.m. Pacific Time.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

Certain of the statements made and contained herein and elsewhere constitute forward-looking statements as defined in applicable securities laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible” and similar expressions, or statements that events, conditions or results “will”, “may”, “could” or “should” occur or achieved.

Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. The Company believes that expectations reflected in this forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information included herein should not be unduly relied upon. In particular, this release may contain forward looking information pertaining to the following: the estimates of the Company’s mineral reserves and resources; estimates of the Company’s production and sales volumes for the Karowe Mine; estimated costs for capital expenditures related to the Karowe Mine, start-up, exploration and development plans and objectives, production costs, exploration and development expenditures and reclamation costs; expectation of diamond price and changes to foreign currency exchange rate; expectations regarding the need to raise capital; possible impacts of disputes or litigation and other risks and uncertainties describe under “Risks and Uncertainties” as disclosed in the Company’s most recent Annual Information Form.

There can be no assurance that such statements will prove to be accurate, as the Company’s results and future events could differ materially from those anticipated in this forward-looking information as a result of those factors discussed in or referred to under the heading “Risk and Uncertainties” in the Company’s most recent Annual Information Form available at http://www.sedar.com, as well as changes in general business and economic conditions, changes in interest and foreign currency rates, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, costs and availability of power and diesel, acts of foreign governments and the outcome of legal proceedings, inaccurate geological and recoverability assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), and unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalations, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job actions, adverse weather conditions, and unanticipated events relating to health safety and environmental matters).

Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statements were made, and the Company does not assume any obligations to update or revise them to reflect new events or circumstances, except as required by law.

​

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(IDEX Online News) – World Jewelry Confederation (CIBJO) president Gaetano Cavalieri has reported to the High Level Segment of the United Nations Economic and Social Council on the organization’s corporate social responsibility and sustainability program.

 

CIBJO was one of a few NGOs invited to make an oral statement at the New York session.

 

Cavalieri described a series of programs that have been introduced to help optimize the involvement of the international jewelry sector in achieving the UN’s sustainable development goals. These included, a comprehensive set of courses for professionals on CSR in the jewelry industry; development and roll-out of an online system that will support all industry players in the industry in maintaining an ethical chain of custody; collaboration with government and civil society in the areas of biodiversity and combating the illicit trade in precious metals and gemstones; and the attempt to develop a framework that allows jewelry industry members to offset their carbon footprint.

 

CIBJO became the jewelry industry’s first and only representative in the UN body in 2006. Since 2013, it has performed its work with the help of Fiera di Vicenza, which itself became the first trade show organizer to be recognized by the UN.

Stornoway Diamond (TSX:SWY) has announced that processing of ore has commenced at the Renard Diamond project.

As quoted in the press release:

This marks the beginning of a processing ramp-up designed to achieve 100% of plant nameplate capacity (2.16Mtonnes/annum at 78% plant utilization) within 9 months. Commercial production at Renard is defined as the maintenance of ore processing for 30 days at 60% of nameplate capacity.

As of July 13, 2016, 1,002,888 tonnes of ore had been stockpiled, sufficient to commence and maintain the planned ramp-up. Initial production is based on ore sourced directly from the Renard 2-Renard 3 open pit and supplemented from the stockpile as required.

Matt Manson, President and CEO, commented: “The commencement of diamond production at Renard comes exactly 2 years and 5 days since we broke ground for mine construction. Our project execution continues to track several weeks ahead of our (already) re-baselined schedule and well within our capital budget. Our focus now turns to the efficient ramping-up of the process plant and the reconciliation of our principal Mineral Resource and mine operating parameters.”

Click here to read the full press release.

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It seems like Alrosa Diamond (MCX:ALRS) is constantly discovering massive diamonds.  The company’s most recent find is a 214.65 carat diamond from its Nyrbinskoye placer deposit, announced on July 13.

Alrosa’s press release states that the gem is roughly 42 by 4 by 16 m and is translucent with a grey hue.

Dissolution-tetragonal cavities are also visible on the diamond’s surface and contains cracks with graphite and sulphide composition.

Alrosa is well known as the world’s largest diamond producer by output in carats. With that in mind, the Nyurbinskoye placer deposit is in the immediate vicinity of the Nyurbinskaya pipe primary deposit- a source of diamonds.

The Nyurbinskaya deppsoit is run by one of Alrosa’s younger units—the Nyurba Mining and Process Division which operates the Nakyn ore field and develops Nyurbinksy and Botuobinsky open-pit mines.

Aura’s Nuyrbinsky open-pit mine has been in operation since 2001. In January 2015, identified reserves totaled 36.9 million carats.

Other discoveries made by Alrosa in recent times include the discovery of a 241.21 carat diamond in June and a 105.6 carat one last December.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.

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Dunnedin Ventures Inc. (TSXV:DVI) announced management changes to strengthen its diamond focus, and receipt of permits supportive of exploration work through 2017 – 2018.

As quoted in the press release:

The Company announces the appointment of Ms. Claudia Tornquist and Mr. Chad Ulansky to the Company’s Board of Directors, and the movement of Mr. Patrick McAndless and Dr. Gilles Arseneau to the Company’s Technical Advisory Board.

Ms. Tornquist has been a Technical Advisor to Dunnedin since 2015, and was formerly a General Manager at Rio Tinto working extensively with Rio Tinto’s diamond mines and development projects in Canada and Australia.  She also worked as Executive VP Business Development for the royalty company Sandstorm Gold Ltd., financing junior mining companies with stream finance, equity and debt, and is currently also on the Board of Kennady Diamonds Inc.  Ms. Tornquist holds Masters degrees in Engineering and Business Administration.

Mr. Chad Ulansky, a professional geologist, is currently President and CEO of Metalex Ventures Ltd. and Cantex Mine Development Corp., as well as serving as director of several public and private mineral exploration companies.  Mr. Ulansky holds a Bachelor of Science degree in Geology from the University of Cape Town and has diamond exploration experience that includes the original Ekati diamond discovery and has since spanned fifteen countries on four continents.  Mr. Ulansky, together with Dunnedin’s advisor Dr. Charles Fipke, guided Dunnedin’s till sampling program in 2015, results of which are expected in the near future.

The Company also reports it has received a positive vote from the Chesterfield Inlet Community Lands and Resource Committee (CLARC) for its multi-year diamond exploration program. The positive endorsement of Dunnedin’s exploration plan is contingent upon 1) Dunnedin integrating community knowledge into its work in order to minimize impacts upon wildlife, and 2) Dunnedin providing assistance to the Kivalliq Inuit Association (the “KIA”) with cleanup of the abandoned Shear Minerals exploration camp at Josephine Lake.  While not on the Kahuna project claims, the camp is a concern for many local residents and Dunnedin has formally offered assistance with the KIA’s upcoming cleanup efforts.  Such assistance is expected to take the form of transportation of people and equipment to and from the camp while the KIA remediates the site, during Dunnedin’s upcoming field program.

Connect with Dunnedin Ventures Inc. (TSXV:DVI) to receive an Investor Presentation.

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Stornoway Diamond (TSX:SWY) has announced that prior to their expiry on July 8, 91,912,732 common share purchase warrants were exercised at $0.90 per share for total proceeds of $82.72 million.

As quoted in the press release:

This represents 97.47% of the warrants issued on July 8, 2014.

Matt Manson, President and CEO, commented: “We are grateful for this expression of confidence by our warrant holders. The funds received from this exercise will be used to complete the construction of the Renard Project ahead of drawing upon our committed C$100 million senior loan facility. This will further strengthen our balance sheet, and allow for greater financial flexibility as cash flow begins. Commissioning of the Renard process plant continues to progress smoothly, and first ore processing is expected to commence shortly.”

Click here to read the full press release.

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Lucapa Diamond (ASX:LOM) has announced its quarterly activities report for the period ending June 30, 2016.

As quoted in the press release:

Lucapa Diamond Company Limited (ASX:LOM) (“Lucapa” or “the Company”) operates the Lulo Diamond Project (“Lulo”), a 3,000km concession in Angola’s Lunda Norte diamond heartland located within 150km of CAtoca, the world’s fourth biggest diamond mine.

Lulo generates strong cash flows from alluvial mining operations where it recovers large premium-value diamonds of up to 450 carats. Special diamonds account for more than 90 percent overall diamond revenues, underlining the unique large diamond nature of the resource and its future potential.

Lucapa and its partners, Endiama and Rosas & Petalas, are advanced in their search to identify the primary kimberlite source or sources of these exceptional alluvial diamonds, with a priority kimberlite drilling program commencing at the end of the June 2016 Quarter (“Quarter”).

Click here to read the full press release.

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Global production of diamonds versus the value diamonds produced was a little lopsided in 2015.

While 127,399,362.81 carats were produced, the total value of those carats was significantly down, coming in at just $13,881,626,03, as per statistics provided by the Kimberley Process rough diamond scheme.

The decrease allegedly marks the diamond industry’s first annual decline in three years due to slumping prices. Data published by the Kimberley Process indicates that production by value dropped 4.2 percent in 2015, while production in volume increased by 2.1 percent, according to Rapaport.

Russia in particular produced a significant amount of diamonds last year. At 42 million carats, the country has produced more than double the amount of its runner up, Botswana, which produced 21 million carats in 2015. On the flip side, Rapaport writes that Botswana’s diamond production was worth more than Russia’s.

With diamond value dropping, it’s no surprise that some of the largest gems have struggled to sell at their projected values, or even at all.

Recently, Petra Diamonds (LSE:PDL) sold its 121 carat white diamond for $6 million in Johannesburg. Despite the sale, Petra Diamonds reported a loss for the first half of its financial year in February. This was in part due to lower sales demand, as well as additional supply that pushed rough diamond prices down 9 percent overall.

Last year, Lucara Diamond (TSX:LUC) discovered the world’s largest diamond, weighing in at 1,109 carats. The diamond was projected to sell for $70 million at the Sotheby’s auction last month. However, despite the hype, the gem failed to sell at the auction entirely.

And, of course, there’s the Aurora Green diamond: a 5.03 carat fancy vivid green which recently set two world auction records by selling for $16.9 million. Despite the world-record price, the gem was projected to sell between $16.2 million and $20.1 million, so it still sold on the lower end of its projected value.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.

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