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DIAM Diamond Cap

0.1005
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Diamond Cap LSE:DIAM London Ordinary Share IM00B1Y64R53 ORD USD0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.1005 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Diamond Cap Share Discussion Threads

Showing 26 to 45 of 100 messages
Chat Pages: 4  3  2  1
DateSubjectAuthorDiscuss
23/11/2005
08:19
Might be of interest here


(per Mining Magazine, Nov.2005: P.McCready, Regional Focus, Africa)

energyi
10/11/2005
23:38
in this month's bloomberg mkts mag there is a big piece on the above and other happenings in northern canada.
rambutan2
10/11/2005
19:01
Metalex et al. drill up Kyle gems


2005-11-08 15:53 ET - by Will Purcell

Chuck Fipke and Dr. Peter Gregory have a new diamond tally from their Northern Ontario Kyle diamond project for their busy diamond promotion, Metalex Ventures Inc. The T1 pipe produced a modest parcel of microdiamonds this spring and there was enough size distribution sparkle to warrant delineation drilling and a larger test. The Kyle partners now have the counts from the summer drill program and the numbers continue to generate hope. Speculators barely managed a yawn at the latest tallies, as the numbers are modest. Still, a healthy size distribution could bode well for the play.

The counts

The Kyle project is nearly 100 kilometres west of Mr. Fipke's Attawapiskat play, which sparked a buying frenzy a few years ago. The Kyle project did not attract much notice from speculators, but it continues to outperform the Attawapiskat play.

At last report, Arctic Star Diamond Corp. held an 8.5-per-cent share of the project, and Mr. Fipke owned a 10-per-cent-carried interest through his Kel-Ex Development Ltd. Metalex owns the remaining interest. Arctic Star now plans to preserve its share, a decision made easier by the discovery of T1 and the intriguing diamond tallies.

Metalex's new diamond counts come from the first two holes that the company and its partners drilled into the T1 pipe. They originally planned a five-hole program and they completed at least three tests at last report. The new samples weighed 1,573 kilograms, enough to provide some valuable clues about the diamond content of at least a part of the pipe. The rock produced 288 diamonds, which works out to about 185 stones per tonne

energyi
09/11/2005
20:24
Majescor Resources Inc. ( MAJ:TSX-V) ...
and Tropic Diamonds are engaged in the business of acquiring, exploring and developing diamond mining and exploration properties. Majescor was incorporated in 1996 when it was a wholly-owned subsidiary of Virginia Gold Mines. The company was spun off in 1999 as a consequence of a merger between Virginia and Diabior Exploration. More recently, Tropic Diamonds was spun off recently to hold Majescor¡¦s international assets.

Initially, Majescor focused only in Quebec, but in 2002, it expanded its activities to the Northwest Territories, Nunavut, the United States, Brazil and Madagascar. The last two properties are now part of Tropic Diamond¡¦s portfolio.

Majescor remains one of the largest property holders for diamonds in Quebec, the Northwest Territories and Nunavut with over 10.000 km2 of ground covering many isolated indicator mineral anomalies; all potentially associated with kimberlite pipes. A number of these will be drill tested over the next year.

To share the risk associated to exploration and accelerate the development of their properties, Majescor has created strategic alliances and joint venture partnerships with Superior Diamonds, Dunsmuir Ventures, Diamondex, De Beers and Diamonds North Resources in Canada, while Tropic Diamonds has partnerships with Vaaldiam Resources in Brasil, and De Beers and Madagascar Mining Development in Madagascar.

Strong Management and Exploration teams have been put together in both companies and they will be represented by Majescor¡¦s Chairman and CEO, Mr. André Audet, whom is also a founding director of Tropic Diamonds.
In order to pursue their development, Majescor and Tropic Diamonds are raising $2.5-$5.0 million.

energyi
03/11/2005
08:38
S Africa begins shake-up of diamond sector
>By John Reedin Johannesburg
>Published: November 2 2005 02:00 | Last updated: November 2 2005 02:00
>>

South Africa's national assembly yesterday passed amendments to the law relating to diamonds that will change the way De Beers does business in its oldest country of operation.

The bill, which De Beers and smaller producers had criticised, will create a State Diamond Trader and compel miners to channel diamonds through a state-controlled export centre.

An export tax of up to 15 per cent is expected under separate legislation next year.

De Beers, which accounts for about half of world diamond production, exports stones duty free from South Africa to its Diamond Trading Company (DTC) in London. Some are returned for local polishing and cutting.

De Beers had warned that the legislative changes would reduce demand for diamonds and lead to job losses in South Africa, where five of its seven mines are unprofitable.

Anglo American, which owns 45 per cent of De Beers, said the proposed law might lead to the demise of the DTC.

De Beers declined to comment yesterday.

The South African government, like others in southern Africa, wants to capture a bigger share of the cutting and polishing business, which is concentrated inoffshore centres such as India.

"While we still havethe resources in the ground we need the benefits that they can bring," Lindiwe Hendricks, minerals and energy minister, said yesterday.

Ms Hendricks also brushed aside warnings of job losses, saying several companies had expressed interest in investing in South Africa's processing sector.

The draft will become law after being approved by parliament's lower house.

Festus Mogae, Botswana's president, last week proposed that South Africa and other countries in the region send their diamonds for processing in Gaborone, instead of London. Botswana is the world's largest diamond producer and De Beers' biggest country of operation.

De Beers is diversifying away from its traditional base in southern Africa, notably to Canada.

The company has had a rocky relationship with the South African government amid criticism that it has been too slow to transform racially.

In September it took the historic step of naming David Noko, a black South African, to head De Beers Consolidated Mines, its local unit.

energyi
03/11/2005
07:15
SE has potential- as yet unproven.
But things are moving the right way now

energyi
31/10/2005
16:48
energyi, note also that southernEra had v good news re camafuca licence in angola where they have an 18% free carry. it has the makings of a giant mine wouldnt you agree?
rambutan2
31/10/2005
16:29
C:SPQ - Spider and KWG spin new hope for old plays
[2005-10-27 11:39 ET]
KWG Resources Inc. and Spider Resources Inc. plan to revive their Ontario diamond plays, and their once promotable McFauld's metal project. The Attawapiskat and Wawa gem plays are getting new notice from speculators, and the partners see signs of hope for their projects. more...

C:SDM - SouthernEra finds a partner
[2005-10-26 14:56 ET]
SouthernEra Diamonds Inc. has a partner for its hunt for Congo kimberlites. BHP Billiton Inc. agreed to buy a chunk of SouthernEra's shares, and the mining giant can earn a majority stake by completing a feasibility study on the play, which yielded hopeful signs so far. more...

C:DIA - Big Red grabs another little play
[2005-10-28 16:25 ET]
Big Red Diamond Corp. has another tiny diamond project in Northeastern Ontario. The company's new play comes with an existing magnetic target and some modest geochemical encouragement. That could lead to an early drill program. The company has two similar plays nearby. more...

energyi
27/10/2005
16:08
Dwyka Diamonds (AIM:DWY) Mkt Cap: £25m Price: 30p BUY

De Beers will transfer the two pipes to Dwyka Tanzania Limited, a company which will be 95 per cent owned by Dwyka Diamonds Limited and 5 per cent owned by De Beers. Dwyka will be responsible for bulk sampling of the two pipes, with expenditure expected to be in the region of US$1.5m.

Dwyka's Tanzanian partner, Thorntree Minerals Limited will assist Dwyka with the bulk sampling programme in-country and provide all the necessary logistical, managerial and government liaison support. Thorntree Minerals will have the right to participate in 20 per cent of Dwyka's equity interest in the projects once the decision to progress to feasibility study is taken at the end of the bulk sampling period. De Beers will have the option to acquire a 51 per cent shareholding in Dwyka Tanzania Limited, by reimbursing Dwyka three times the costs incurred by the Company to evaluate the projects. Alternatively, De Beers may elect to remain as a 5 per cent shareholder in Dwyka Tanzania Limited or convert its shareholding into a 1.5 per cent gross royalty payable on diamond revenues. As part of the agreement Dwyka Tanzania will sell all diamonds recovered in the license areas to De Beers.

Mahene Kimberlite - Mahene cover an area of approximately 6.8 Hectares making it the largest Kimberlite now Dwyka's portfolio. Drill core sampling to date by De Beers returned a diamond grade of approximately 8 cpht.
Itanana Kimberlite – Covers an area of between 2.0 and 2.3 Ha. Sampling by De Beers has returned a grade of 3 carats per hundred tonnes. Dwyka will take a substantial bulk sample to increase the sample size in order to accurately assess the diamond bearing potential of the Kimberlite.

Both projects will be tested concurrently with activity beginning immediately.

Comment
The relationship with de Beers is going from strength to strength. Dwyka's handling of the relationship to date is affording them a stream of opportunities and their managerial and operational teams are delivering.

While Mahene and Itanana are a some way from commercial production, they have been significantly de risked (particularly Mahene) which gives Dwyka a high degree of capital protection in the evaluation stage. In the current diamond price environment, these bulk samples should generate not insignificant additional cash flow for the company.

Dwyka does not have a flag ship project like Alto Cuilo, which places it in a lower beta investment category for investors looking for steadier more incremental growth. Today's announcement is the latest and potentially most value enhancing announcement made by the company on a 'near term cash flow basis'.

Having endured weakness on the back of the sector wide low liquidity sell-off over the past month, we recommend investors seeking exposure to diamonds seek out Dwyka as a longer term play with favourable comparative risk/reward scenario

energyi
24/10/2005
10:52
CROWN was a helluva acquisition, if the brokers can say this...

CONCLUSION
Given the early stage nature of most of the Mano and Kalahari assets, the deals have little immediate impact upon our target price, indeed with the additional dilution, our target price has dropped slightly for the short-term. However, we anticipate that development and exploration success on both Petra¡¦s new and existing projects will lead to a significant rise in our target price.

With the new acquisitions, Petra has an ideal balance of exploration, development and production assets. This, combined with the geographical spread of the Company¡¦s projects, provides an excellent diversification of risk without compromising reward. Ultimately, Petra has assembled a highly experienced management team and a portfolio of assets that has exceptional potential to create value for shareholders.

Petra¡¦s aggressive growth programme is creating a unique mid-tier diamond producer that could see the company producing between 500,000 and 750,000 cts p.a. by 2009/10 (and this does not take into account any production from Alto Cuilo). It is also important to note that the Company as a whole is currently trading on P/E multiples of 15.5x and 10.8x for 2006/7 and 2007/8 respectively. In other words, just the production assets and cash within the company support the current share price ¡V Alto Cuilo and the exploration assets are essentially in for free!

We look forward to the company bringing its projects, both new and existing, to account over the next 12 months and unlocking the inherent value.

We therefore maintain our BUY recommendation on Petra Diamonds. Due to the dilution from the recent transactions, our current target price has marginally fallen to £1.40/sh.

energyi
20/10/2005
00:30
well my sre/sdm got in their bounce early!
rambutan2
19/10/2005
11:28
Diamond stocks falling with weaker Gold shares.
Fortunately, this new recent low in ABZ (near $36) is coming on lighter volume,
so a bounce may come soon

energyi
10/8/2005
21:30
DIAMOND JOE GUTNICK...

These days the Australian press calls Gutnick "Diamond Joe." His 26%-owned diamond mining company, Astro Mining, was recently relisted on the Australian Stock Exchange, and though it is not yet producing diamonds, its shares have since climbed 25-fold to give it a market capitalization of $276 million.

Seven of the eight public companies have yet to turn an operating profit, but all eight have a combined market capitalization of $2.4 billion.

One of the most highly touted issues is Mt. Kersey Mining, which has all the mineral rights to lands surrounding a major nickel discovery, called Silver Swan, just north of Kalgoorlie in Western Australia. Mt. Kersey's stock has run from 80 cents to $5, even though it hasn't produced one ounce of nickel. At least 45% of Mt. Kersey's shares are owned by Gutnick or his companies. Typically he controls these outfits through a web of cross ownerships. Even the Lubavitch main charity owns his stocks.

...MORE:

energyi
10/8/2005
21:27
Posted: 07-15-05, 05:12 PM Did You Know That China Has Diamond Mines! Believe It!

Yes, folks, you heard right. China has Diamond deposits! No, I did not see this in Ripley's Believe It or Not!

China Diamond Corp., reported a 108 percent increase in production results from the 701 Changma Diamond Mine located in Shandong Province, China. China Diamond is headquartered in London, Ontario, Canada, and is engaged in mining for diamonds and the exploration and advancement of diamond and gold prospects in China.

The 701 Changma Diamond Mine is the company¡¦s principal mining operation the company said in a press release on July 14. Total carats produced from January through March 2005 were 9,240.50, but from April through June total carats produced hit 19,221.20.

Operations were carried out in a higher grade area of the deposit, namely the Small Pipe, which returned an average monthly grade of 1.23 carats per ton. This area is expected to continue to be in production well into August 2005.

Hey, do you think a great marketing Logo for the Chinese Diamond Dealers would be...a Panda wearing a Diamond Tiara!

@:

energyi
10/8/2005
13:24
Other companies?
What have I missed?

Like South Africans:
TransHex

Canada
Mountain Province (v.MPV)
Pele Mountain (v.GEM)
Rex Diamonds (t.RXD)

Russia
Almazy Rossii-Sakha (Diamonds of Russia and Sakha, commonly called Alrosa) : joint stock company , not quoted

energyi
25/7/2005
16:19
De Beers Societe Anonyme

Consolidated Income Statement
for the half-year ended 30 June 2005 (Abridged)

US Dollar millions
6 Months to 6 Months to 12 Months to
30 June 2005 30 June 2004 31 December 2004
Diamond sales
-DTC 3 220 2 983 5 695
-Other 265 259 512
Joint venture and other income 421 373 836
3 906 3 615 7 043
Deduct:
Cost of sales 2 810 2 507 4 825
Depreciation and amortisation (Note 1) 104 88 201
Sorting and marketing 199 230 543
Exploration, research and development (Note 2) 106 99 239
Corporate expenses 43 34 80
Net diamond account 644 657 1 155

Deduct:
Net finance charges (Note 3) 56 55 83
Costs related to reorganisation and 12 17 39
restructuring
Income before taxation 576 585 1 033
Taxation 228 203 386
Income after taxation 348 382 647

Attributable to outside shareholders in 3 9 26
subsidiaries
Own earnings 345 373 621

Share of retained income of joint ventures (6) 40 21
Total earnings 339 413 642

Amortisation of goodwill (Note 1) 72 144

Net earnings 339 341 498



Headline earnings reconciliation

Net earnings 339 341 498

Adjusted for :
Amortisation of goodwill (Note 1) 72 144

Amortisation of intangible fixed assets 15 31

After tax surplus on realisation of fixed assets (3) (4) (21)
less provisions
Headline earnings 336 424 652

Cash available from operating activities 158 871 985


Dividends in respect of:

2003 - Final 150 150
2004 - Interim 250
2004 - Final 200
2005 - Interim 150







De Beers Societe Anonyme


Consolidated Balance Sheet


30 June 2005



(Abridged)





US Dollar millions
30 June 2005 30 June 2004 31 December 2004

Ordinary shareholders' interests 3 663 3 663 3 801
Outside shareholders' interests 130 124 132
Total shareholders' interests 3 793 3 787 3 933
Net interest bearing debt (Notes 3 &4) 1 842 1 169 1 588
Other liabilities 1 490 1 489 1 776
7 125 6 445 7 297

Fixed assets 5 196 5 001 5 360
Investments and loans 76 87 81
Diamond stocks and other assets 1 853 1 357 1 856
7 125 6 445 7 297
Exchange rates US$ = Rand
- average 6.17 6.58 6.43
- period end 6.87 6.62 5.74



Notes and Comments



1. In terms of International Financial Reporting Standard 3
(Business Combinations), with effect from 1 January 2005 it is no longer
permissible to amortise goodwill arising on consolidation. The standard does not
require the restatement of prior periods, which include amortisation of goodwill
amounting to US$72 million and US$144 million for June and December 2004
respectively.



2. The costs of feasibility studies to prove the viability of
mineral resources, previously included in cost of sales, have now been included
with exploration, research and development. Prior periods have been restated
accordingly.



3. Preference share capital is included in net interest bearing
debt. Preference dividends, amounting to US$32 million (2004 : US$43 million and
US$75 million for June and December respectively) are included in finance
charges in the respective income statements.



On 30 June 2005, the Company took advantage, for the second time, of an early
redemption clause attaching to its 10 per cent preference shares in issue and
redeemed the maximum permissible amount of US$214 million, or 25 per cent of the
total originally in issue.



4. The US$2.5 billion revolving credit facility was replaced
on 31 March with a US$3 billion multicurrency revolving facility, on more
favourable terms, split into two equal tranches with tenors of five and seven
years.

Cash has been offset against interest bearing debt.

Contacts:

De Beers London:
Lynette Hori +44 20 7430 3509/+44 7740 393260
De Beers South Africa
Nicola Wilson +27 11 374 7399/+27 83 299 5552

energyi
25/7/2005
14:34
25 July 2005
De Beers Societe Anonyme ("Dbsa") today reported headline earnings for the six
months ended 30 June 2005 of US$336 million.

Anglo American plc ("AA plc") arrives at its headline earnings in respect of De
Beers by accounting for the interests arising from the ordinary shares and the
10% preference shares it holds in DB Investments ("DBI").

AA plc will therefore report headline earnings of US$270 million for the six
months ended 30 June 2005 from its investment in DBI, as reconciled in the table below:

Reconciliation of headline earnings for the six months ended 30 June 2005

US$ million Total
* DBI headline earnings (100%) 336
* Adjustments (1) 5
* DBI headline earnings - AA plc basis (100%) 341
* AA plc's 45% ordinary share interest 153
* Income from preference shares 26
* Exchange gains related to preference shares 91
* AA plc headline earnings 270

(1) Adjustments include the reclassification of the actuarial gains and losses
booked to the income statement by Dbsa under the corridor mechanism of IAS19.
As AA plc has early adopted the amended version of IAS19, this charge has been
included in the deficit booked to reserves in prior years.

On 30 June 2005, Dbsa redeemed a second 25% of the preference shares originally
in issue and on that date AA plc received US$175 million, representing 25% of
its original US$701 million preference share interest.

In the six months ended 30 June 2005, AA plc received from DBI a US$90 million
final dividend on ordinary shares relating to FY 2004, US$26 million dividends
representing the second payment on preference shares for 2004, and US$9 million
representing the first dividend for 2005 on the redeemed preference shares. A
US$17 million first dividend for 2005 on the remaining preference shares and a
US$68 million interim dividend on ordinary shares relating to FY 2005 are
scheduled for payment on 1 August 2005.

In the six months ended 30 June 2004, AA plc received from DBI a US$68 million
final dividend on ordinary shares relating to FY 2003, US$35 million dividends
representing the second US$35 million payment on preference shares for 2003, and US$9 million representing the first dividend for 2004 on the redeemed preference shares. A US$26 million first dividend for 2004 on the remaining preference shares and a US$112 million interim dividend on ordinary shares relating to FY 2004 were received from DBI during the second half of 2004.

Reconciliation of headline earnings for the six months ended 30 June 2004

US$ million Total
* DBI headline earnings (100%) 424
* Adjustments (1) (48)
* DBI headline earnings - AA plc basis (100%) 376
* AA plc's 48.65% ordinary share interest (2) 183
* Income from preference shares 35
* Exchange losses related to preference shares (49)
* AA plc headline earnings 169

(1) Adjustments include the impact of IAS32 and IAS39 which applied to Dbsa in
2004, but have only been adopted by AA plc in 2005.

(2) As a result of De Beers' partial interest in Debswana Diamond Company
(Proprietary) Limited (one of the shareholders in DBI), AA plc accounted for an
additional 3.65% of DBI's post-tax earnings attributable to ordinary shares. As
previously announced, the Debswana interest in DBI was ceded to the Government
of the Republic of Botswana as part of a renewal of De Beers' mining licences in
Botswana, agreed on 20 December 2004. Accordingly, from this date AA plc no
longer accounts for this additional 3.65% interest.

The above figures are unaudited.

- - -
INTERIM RESULTS
FOR THE SIX MONTHS ENDED 30 JUNE 2005

DIRECTORS' COMMENT

Results

Own earnings at US$345 million were 8% lower than the equivalent period in 2004,
and headline earnings were 21% lower at US$336 million. The decrease in own
earnings was mostly due to the impact of a weaker dollar and to tighter margins
arising largely from a significant reduction in stockpile realisations. Headline
earnings were further impacted by the negative swing of US$46 million in the
group's share of retained earnings of joint ventures. This was because of the
release last year, as the diamond stockpile was being run down, of higher
provisions for unearned profits in diamond stocks purchased from the group's
joint venture partners.

Operating cash flow fell to US$158 million from US$871 million in the first half
of 2004 when there was a draw down of stocks of nearly US$500 million. In
addition there was a substantial increase in other working capital in 2005.

In line with the lower earnings and cashflow, the Board has declared a reduced
interim dividend of US$150 million (2004: US$250 million) payable on 1st August
2005.

Production

Group production for the period was 23.7 million carats, an increase of 23% over
the same period in 2004. As a result of the increased production, stock levels
have risen by about $400 million compared with June 2004.

Sales and marketing

Despite mixed economic data it is estimated that the demand for diamond
jewellery in the United States is up by 6% in the first half over the same
period last year. Larger chains and high-end independents have shown the
strongest results and polished prices have started to edge up at the consumer
level. Performance in other markets was mixed. The local currency value of
global diamond jewellery sales is estimated to be higher by 5% than the
equivalent period in 2004. De Beers is currently forecasting growth of 6% in
local currency retail demand for the full year due to the level and quality of
diamond marketing activity as well as regional macro-economic strength.

Throughout the first half, demand for rough diamonds from the cutting centres
was strong. Sales by the DTC, the marketing arm of De Beers, for the first six
months totalled US$ 3.2 billion, 8% higher than the equivalent period in 2004.
The DTC raised its rough diamond prices on two occasions.

Projects

De Beers recently announced the approval of C$636 million for the Snap Lake
project in Canada with construction scheduled to commence in 2006. Further
expansion projects in Canada and Southern Africa are under evaluation.

Agreement was reached with Endiama, the Angolan state mining company, for the
establishment of a joint venture for the exploration of diamonds.

Regulatory

In early June, the European Commission published a notice indicating its
intention to accept the commitments offered by De Beers and Alrosa in relation
to the Alrosa Trade Agreement and allowed a 30 day period for public comment.
The Commission is now considering any third party comments received.

Outlook

The market for rough diamonds remains firm and we expect that, unlike in
previous years, sales in the second half of 2005 will at least match those of
the first half and that stocks will reduce. This should have a beneficial impact on both cash flow and earnings.

De Beers announces interim results as follows:

energyi
11/7/2005
09:32
You've missed out New Millenium!

NML

english bigblls
11/7/2005
09:29
worth a visit?:
energyi
02/3/2005
09:09
U.S diamond exploration expanded

American Diamonds Inc. is pleased to announce it has entered into a Letter of Intent with Firestone Diamonds plc (Firestone) to explore for kimberlitic diamond deposits in the United States of America. Firestone is a U.K. based diamond producer with operations in South Africa and has been exploring for kimberlitic diamond deposits in the U.S. for the past two and a half years. As a result of this work, Firestone and their consultant Howard Coopersmith have identified several areas containing anomalous kimberlitic indicator minerals within two adjacent States not known to be previously explored for kimberlite. These two States lie within a Project area of five States covered by the agreement. Based on this work several specific areas for immediate detailed heavy mineral sampling for kimberlite indicators have been identified.

Story :

energyi
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