Esr 2022 Share Discussion Threads

[tt14] 19/5/2007 18:37

Magnus9,talking of Eurasia mining, what do you think of this old bit of news?

[tt14] 18/5/2007 20:47

Thought I'd provide the translation.

Special agents?

I persume the FSB are interested in all strategic assets.

Not sure if the six sites are actually within everfor's 4 licences.

Nice if they were.

[magnus9] 17/5/2007 22:54

Been doing some digging about as were getting near to annual report time and the following article in Russian caught my attention:



I was surprised to discover that it says 91% of the shares in Everfor are held by those with a 3%+ holding and by directors. That only leaves 8.9m shares for those with less than a 3% holding. So not many available it would seem.

The article is recent (27.04.07) and seems authoritative with lots of stuff seemingly pulled straight from the Everfor website. The headline says:

'Special agents together with former De Beers managers are seeking diamonds for Abramovich on the Kola Peninsular'

and the last paragraph is equally revealing:

'According to experts, Sergei Kurzin is operating in Russia in the interests of Roman Abramovich or the Kremlin, where incidentally one does not exclude the other. As far as we recall, Mr.Abramovich started to get interested in diamonds as early as 2001.'

[magnus9] 09/4/2007 18:39

I see Russia was biggest diamond producer in 2005 in volume terms. Lets hope Everfor will be making a contribution soon!



Diamond industry bares all under transparency initiative
02 April 2007, 16:49 CET

BRUSSELS) - The diamond industry, accused in the past of being opaque, bared all on Monday by publishing production figures for the first time as part of a transparency initiative to counter the "conflict diamond" trade.

The industry produced 11.5 billion dollars (8.6 billion euros) worth of rough diamonds in 2005, the last year for which data is available under the so-called Kimberley certification scheme.

With a 25 percent market share in terms of value, Botswana was the leading producer, followed by Russia with 22 percent, Canada with 12 percent, South Africa with 11 percent and Angola with nine percent.

But in terms of volume measured by carats, Russia was the biggest producer, ahead of Australia and the Democratic Republic of Congo both with 19 percent, followed by Botswana with 18 percent and South Africa with nine percent.

The European Union was the biggest destination for rough diamond imports, taking in 39 percent of the total in value terms. Most were on their way to Antwerp for cutting.

The EU was followed by India as the second-biggest rough diamond importer with 24 percent of the total, followed by Israel with 16 percent, both of which also have big diamond cutting industries.

The European Commission, which currently holds the rotating presidency of the Kimberley process, said that figures for 2006 would be published later this year.

The effort to bring more transparency to the industry is one of the main aims of the Kimberley process to prevent illegally exported "conflict diamonds" being used to buy arms.

Under Kimberley, rough diamonds are sealed in tamper-resistant containers and required to have forgery-resistant, conflict-free certificates with unique serial numbers each time they cross an international border.

"The publication of diamond trade data shows the growing strength of the Kimberley Process and its commitment to constant improvement," said EU External Relations Commissioner Benita Ferrero-Waldner.

"While there was not consensus on this degree of transparency when the scheme began, all participants now agree to the new level of openness," she added.

Seventy-one countries have now signed on to Kimberley and agree to buy and sell only among fellow members. The certificate takes for granted that the stone in question is a real diamond.

The agreement is named after the diamond-mining city in South Africa and went into effect January 1 2003.

[seagreen] 26/3/2007 18:15

Strewth two buys in two weeks now....

[magnus9] 26/3/2007 16:18

A tick up!
Could things be about to shape up on the diamond front?

Been reading about Lev Leviev who's big on the Russian diamond scene - most interesting.

[magnus9] 23/3/2007 11:07

Looks like RAB and Credit Suisse are playing ping-pong with that 28.66% holding:



Something about to happen? (He says hopefully).

[seagreen] 06/2/2007 12:46

Like that Status Quo song..down, down

[seagreen] 20/12/2006 15:23

lesser spoted buyer turned up.......up 7% amazing

[seagreen] 20/12/2006 15:22

Something up some trades will try and find out what is going on

[magnus9] 04/10/2006 01:40

Looks like RAB's shares are held in a Credit Suisse nominee account. That'll do.

[seagreen] 02/10/2006 12:41

Same as before I guess as no note to the effect that they have reduced...

zzzzzzzzzzzzzzz

[magnus9] 30/9/2006 18:36

seagreen

Hope I'm not disturbing your slumbers! You mention that RAB have a holding in EVE but there's no mention of this in the latest report and accounts. Just wondered if you know what percentage RAB now hold.

I see Central Kola Expedition has a website now. Quite a network of companies linked to CKE - most interesting. BTW, I've actually signed up for a few EVE - I must like risk!

[seagreen] 27/9/2006 11:37

zzzzzzzzzzzzzzzzzzzzzz

[seagreen] 11/8/2006 08:53

And I thought I had found another share holder!

I bought in when they were on ofex at 15p only small and took a thumping so bought into my placement entitlement at 4.5p....they are fairly excited but it will take time but iof the hit a kimberlite I can see this doubling or trebling...and if they dont well what can I say...........RAB have done a personal placing as well as the instiututional one and they are not a registered charity so they must think its got a sporting chance

Will post if I hear any news

[magnus9] 10/8/2006 23:13

seagreen

Well, many people say the less of me that's spotted the better!

EVE certainly doesn't get much coverage - I discovered it through my interest in Eurasia Mining (EUA). I noticed that a lot of the prospecting work in the region was done by the Kola Expedition headed by EVE's Mr.Dubyagin. So it appears there could be some commonality between the two companies.

I see EVE's Mr.Duncan worked for the Anglo American/De Beers group of companies, so I suppose that could be construed as another link.

I also saw the recent Bloomberg interview with Anglo American's Tony Trahar in which he acknowledges the challenge is to find more natural diamonds. Now that AngloGold Ashanti is being freed up to do its own deals it struck me that some interesting links might develop.

Another thing which interested me is that there is gold prospecting going on in the Varzugskaya area (Terskiy district) where EVE has diamond interests. The potential gold resources are 18 tonnes. I remembered from EUA's annual report that the Terskaya Mining Company holds the Monchetundra and West Imandra PGM licences in which Eurasia Mining is involved so there could be a link there.

I don't hold EVE but it's on the radar.

[seagreen] 10/8/2006 10:42

Magnus9 ....r you the lesser spotted second share holder on the whole of the advfn board other than me? good to have some company on here one way or another

[magnus9] 08/8/2006 12:01

This caught my attention on Bloomberg:

Diamonds to Outpace Metals as Scarcity, Asia Sales Boost Prices
Aug. 7 (Bloomberg) -- For the first time in 25 years, diamond production is declining and that may make the world's most coveted stones a better investment than copper, nickel and zinc, this year's top-performing commodities.

Output from diamond mines worldwide is likely to fall 2 percent by 2015, says James Picton, a diamond analyst at W.H. Ireland who's been following the industry for 35 years. Production has increased about 9 percent in the past five years, according to the New York-based World Diamond Council, as mining companies hurried to find new deposits to meet soaring demand.

A rally in prices will fuel earnings for producers African Diamonds Plc and Petra Diamond Ltd., according to Merrill Lynch & Co. and JPMorgan Chase & Co. The drop in production comes as purchases of the stones rise, helped by the booming economies of China and India. China alone doubled jewelry purchases since 2001 and may buy 20 percent more this year, according to www Diamond Forecast Ltd., a London-based research firm.

Diamonds have ``the best fundamentals,'' said Evy Hambro, who manages the $6.6 billion World Mining Fund in London for Merrill Lynch. ``The gap between supply and demand is much bigger relative to other commodities.''

Rough, or uncut, diamonds don't trade on commodity exchanges. Instead Johannesburg-based De Beers, which sells 60 percent of the world's uncut gems, holds 10 sales a year, known as sights, to a select group of customers called sightholders from countries known for diamond cutting, including Belgium and Israel. That leaves shares of diamond producers as the easiest way to invest in the gems.

`Very Positive'

Hambro, with 1.5 percent of his assets in diamond companies, said he will buy shares of Germiston, South Africa-based Gem Diamond Mining Corp., which goes public this year, and Toronto- based Aber Diamond Corp. Ian Henderson, who manages $2.5 billion in natural-resource assets for JPMorgan in London, said he has increased his diamond-share holdings to 4 percent from 1 percent in the past year. He declined to elaborate.

``I am very positive about diamonds, given the overall supply-demand situation,'' said Henderson. ``Of the 170 diamond companies out there, only 25 are actually producing.''

One of those is Dublin-based African Diamonds, whose shares almost tripled this year. Another is Sierra Leone Diamond Co., a Hemel Hempstead, U.K.-based company operating in West Africa, whose stock has also tripled. Shares of Petra Diamonds, a Jersey, U.K.-based explorer in Angola, South Africa and Botswana, have risen 52 percent. By contrast, the Bloomberg World Mining index of 48 companies, including OAO GMK Norilsk Nickel, the world's No. 1 nickel producer, is up 21 percent.

``There are no big mines out there in the foreseeable future,'' said John Teeling, chairman of African Diamonds, which made its first and only diamond-mine discovery two years ago in Botswana. ``We'd be very lucky to find a second.''

Retail Boom

Declining production is a boon for retailers. Consumers bought $70 billion of diamonds worldwide last year, Picton said. Retailers including De Beers and Tiffany & Co. aim to increase that figure this year with new stores from Wall Street to Beijing. De Beers plans to open 20 new jewelry stores this year and next with Paris-based LVMH Moet Hennessy Louis Vuitton SA.

``There's something about diamonds that is completely seductive for people,'' said Stephen Webster, who designed the wedding rings for singers Madonna, Pink and Christina Aguilera. ``Everything else feels second-best.''

Thirty Percent Increase

The value of rough diamonds, as the uncut stones are called, is likely to increase 30 percent in the next six years, says Picton at Manchester, England-based W.H. Ireland. His research shows that diamonds provided better returns than gold since 1948.

Diamonds, the hardest substance in the world, formed in primeval carbon rock structures known as kimberlites at least 150 kilometers (93 miles) underground. Volcanic activity brought the gems closer to the surface, and the first were found in the riverbeds of India's Golconda region. About 7,000 kimberlites have been discovered and only 15 percent bear diamonds. Since the first were discovered more than 2,000 years ago in India, the world has produced 380 tons of diamonds.

The scarcer they are, the higher the price. The average value of the 114 million carats (50 pounds) of diamonds sold worldwide each year is little more than $7 billion, according to the World Diamond Council. In 2000, when 110 million carats were produced, the value was $7.8 billion.

Outperform Metals

``Diamonds could very well outperform base metals'' in the coming years, said Andrew Ferguson, who manages about $313 million at New City Investment Managers Ltd. in London. ``Given the huge increases in demand and the imbalances in supply, I expect good returns.'' He declined to say how much.

One threat to rising prices is the growth of synthetic diamonds. Since 1955, when General Electric Co. developed a process to develop synthetic gems for use in drilling, cutting and grinding tools, the use of non-natural gems has soared, today accounting for about half of all diamonds.

Industrial use of diamonds accounted for 25 percent of supplies by weight or 5 to 10 percent by value, according to www International Diamond. Gemesis Corp., producer of most of the world's synthetic gem-quality diamonds, said it will raise output about eightfold in 2006 from last year to take advantage of rising prices.

The rally in commodity markets, now in its fifth year, has sent prices for raw materials to records. Copper has more than doubled in price in the past year. Nickel is up 77 percent. Gold has surged almost 50 percent and reached a 26-year high in May. Prices in London were at $646.30 an ounce on Aug. 3.

``To have matched the average diamond-price increase since 1948, gold would have to be around $750,'' said the 70-year-old Picton. ``To have matched a basket of the finest, largest-quality gems, gold would have to be around $2,000.''

Few Producing Mines

Some untapped diamond deposits are too dangerous to develop, adding to a shortage. Disputes over access to the gems have sparked violence in Angola and in the resource-rich Democratic Republic of Congo during the civil war that has killed more than 4 million since 1998.

Diamond investments will enjoy ``above-average'' returns in the next several years, according to Trevor Steel, who manages $600 million in natural-resource assets at Baker Steel Capital Managers in London. ``Prices of diamonds and precious metals generally are more resilient to the short-term effects of an economic slowdown compared with base metals.''

W.H. Ireland's Picton says falling production, led by declines at the biggest producers, including Rio Tinto Group's Argyle mine in Australia, the world's largest, will leave $10 billion of demand unfulfilled. The drop will occur even after Botswana boosted output 17 percent last year. The nation, the world's biggest producer of diamonds, accounts for 25 percent of the gems.

`Another Botswana'

``In order to meet the shortfall, you would have to find at least another Botswana, or better yet, two,'' said Picton, whose company is based in Manchester, England. ``It can't be done.''

Canada's Ekati mine, run by BHP Billiton, will be depleted by 2015, Picton said. Ekati, which produces about $700 million of rough gems a year, will last until 2017, said BHP spokeswoman Emma Meade in Melbourne. Rio Tinto's Diavik mine in Canada will drop ``sharply,'' Picton said. Rio Tinto said in December it will spend $910 million to extend the life of its Argyle mine to 2018.

With diamonds hard to come by, some stocks have sputtered. Shares of Gravity Diamonds Ltd., a Melbourne-based company that explores in Congo, have slumped 45 percent in the past year. European Diamonds Plc of London, which explores and mines in Finland and Lesotho, southern Africa, is down 60 percent in the past year.

``The really tricky bit with diamond-exploration companies is finding a kimberlite that is actually economically viable,'' said Sacha Borthwick, an analyst at stockbroker Hargreave Hale Ltd. in London. ``The odds of that are very low.''

Most Expensive

Global demand may rise 6 percent a year to $23 billion by 2015, Picton says.

About 1.2 billion diamonds weighing 160 million carats and worth $13.4 billion were produced last year, according to www International Diamond. Uncut diamond prices rose 3.7 percent on average last year to $84 a carat, with the most expensive pink and red stones selling for $50,000, the consulting company said.

The most expensive diamond ever sold is the 100.1 carat Star of the Season, bought for $16.5 million in Geneva in 1995 by Saudi Sheikh Ahmed Hassan Fitaihi. The largest gem ever found is the Cullinan, which was discovered in 1905 in South Africa and weighed 3,106 carats, according to London-based Diamond and Trading Company.

Finding Stones

Diamond miners are spending more to find the stones. De Beers plans to invest 1.2 billion rand ($175 million) in opening South Africa's Voorspoed mine, which was closed 97 years ago, and a further 1 billion rand on a project on the sea bed off South Africa's coast. In Canada, De Beers is spending C$2 billion ($1.8 billion) digging the Snap Lake and Victor mines.

``Diamond stocks have underperformed other mining stocks in this commodity bull-run,'' says New York-based James Passin, whose $500 million Firebird Global Fund has a 10 percent holding in diamond stocks. ``This is about to change.''



To contact the reporter on this story:
Danielle Rossingh in London [e-mail];
Saijel Kishan at [e-mail]
Last Updated: August 6, 2006 19:11 EDT

[seagreen] 07/7/2006 08:51

AGM 27 July

Everfor Diamonds narrows FY loss
LONDON (AFX) - Everfor Diamonds PLC, which develops deposits in the
North-West of the Russian Federation, narrowed its full-year pretax loss
slightly to 1.147 mln stg from 1.297 mln previously.
Exploration expenses in the period to Dec 31 2005 stood at 584,000 stg,
compared with 645,000 a year earlier.
Everfor is the first company to have obtained diamond exploration licences
in the Kola Peninsula, it said. Totaling approximately 12,500 square kilometres,
the licences are located in one of the most prospective territories for diamond
exploration.

[seagreen] 07/7/2006 08:51

AGM 27 July

Everfor Diamonds narrows FY loss
LONDON (AFX) - Everfor Diamonds PLC, which develops deposits in the
North-West of the Russian Federation, narrowed its full-year pretax loss
slightly to 1.147 mln stg from 1.297 mln previously.
Exploration expenses in the period to Dec 31 2005 stood at 584,000 stg,
compared with 645,000 a year earlier.
Everfor is the first company to have obtained diamond exploration licences
in the Kola Peninsula, it said. Totaling approximately 12,500 square kilometres,
the licences are located in one of the most prospective territories for diamond
exploration.

[seagreen] 06/6/2006 15:03

drilling under way for them kimberlites ...

[seagreen] 06/6/2006 15:02

drilling under away lets hope we hit that kimberlite