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Lucara Diamond (TSX:LUC) issued a press release today stating that it is on track with the works towards a feasibility study for a potential underground operation at its 100%-owned and operated Karowe diamond mine.

The Karowe mine is located in northern Botswana and hosted the world’s second-largest diamond, which Lucara unearthed in 2016.

According to Lucara, the $14.8-million feasibility study that would allow them to expand operations is on track to be released in H2-2019 and will be carried out by JDS Energy and Mining Incorporated.

“In 2019 we will be evaluating various mining scenarios that have the potential to access this valuable ore as early as possible in the underground mining schedule,” the firm’s CEO, Eira Thomas, said in the media statement. “We are delighted to be welcoming Gord Doerksen and JDS to the feasibility team to direct the study and provide Lucara with a fit for purpose underground mine design that will work to optimize and maximize the economic returns of the underground project.”

Following the release of a positive Preliminary Economic Assessment back in 2018 and with the goal of extending Karowe’s mine-life from 2026 to at least 2036, the Canadian miner decided to embark on a $29-million technical program to support the feasibility level study for the underground operation.

The program included a mineral resource update, geotechnical drilling of the country rock and AK06 kimberlite, hydrogeological drilling and modelling, and mining trade-off studies to address risks and issues identified during the PEA.

Out of the $29 million budget, $23 million...

By Giuseppe Fonte and Elvira Pollina

ROME/MILAN, Jan 24 (Reuters) - Italy is completing the preparatory steps to issue its first dollar-denominated bond in more than eight years, a Treasury official told Reuters on Thursday.

With 201 billion euros ($228 billion) in bond redemptions this year, Rome is keen to find investors outside the euro zone where it can no longer rely on support from the European Central Bank which has just ended its asset purchase programme.

The official said the Treasury was close to finishing signing a number of currency swap contracts with investment banks which could potentially be involved in the sale of a foreign currency bond.

By signing such bilateral swap contracts, Italy makes it cheaper for banks handling such issues to hold a foreign currency position with Rome.

Lenders globally are under regulatory scrutiny to better manage the risk on their books.

Italy's public debt is second only to that of Greece in the euro zone relative to its economic output.

Confirming what a market source had told Reuters earlier, the Treasury official said the contracts with banks which are among primary dealers on Italy's debt were being signed.

Rome aims to launch the new bond "in the coming months and in any case in the course of 2019", the official said.

He added the Treasury was talking to investors in the United States and Asia regarding the deal.

In its debt guidelines for 2019, the Treasury said in December it was committed to diversifying its investor base through foreign currency issues, especially in U.S. dollars.

The Treasury added at the time it had gathered strong interest for U.S dollar bond last year, but market volatility has prevented it from launching such deals....

(IDEX Online) – ALROSA reports diamond production volume in 2018 at 36.7 million carats and sales of 38.1 million carats (down 8%). Sales proceeds increased by 6% to $4.5 billion. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>

In Q4 2018, diamond production decreased by 2% q-o-q (up 2% y-o-y) to 10.3 million carats driven by seasonal suspension of production at alluvial deposits, which was almost fully offset by increased output at underground mines. In 12M 2018, production declined by 7% to 36.7 million carats due to the shutdown of the Mir underground mine (UM) and the completion of open-pit mining at the Udachnaya pipe.

In Q4 2018, the volume of processed ore and gravels went down 2.3 times q-o-q (up 3% y-o-y) to 7.5 million tonnes, due to seasonal suspension of production at alluvial deposits. In 12M 2018, it grew by 3% to 40.5 m tonnes mainly due to increased gravel processing at Almazy Anabara alluvial deposits (up 8%) and Mirny Division (up 10%).

In Q4 2018, the average diamond grade per tonne of ore increased 2.3 times q-o-q (down 0.2% y-o-y) to 1.38 cpt, mainly due to seasonal suspension of production at alluvial deposits.

For all of 2018, the average diamond grade was flat at 0.91 cpt. A 10% y-o-y decrease was mainly driven by the shutdown of the Mir underground mine in August 2017 and increased production at lower-grade assets.

Q4 rough diamond sales (ex. polished diamond sales) were 9 million carats (up 34% q-o-q), including 5.3 million carats of gem-quality diamonds (up 12% q-o-q) and 3.7 million carats of industrial diamonds (up 87% q-o-q).

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Just like any treasure hunt, the details are sketchy, a modern-day version of a deserted island map, with an X marking the spot. But here’s what we know.

Back in 2010, famed treasure hunter Tommy Thompson told his girlfriend to show up to a self-storage facility in Fort Lauderdale. She had briefcases—they can’t recall how many—holding 150 pounds in gold coins.

Five hundred coins, to be exact—worth at least a couple million.

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Thompson, now 66 and sitting indefinitely in federal prison, and his girlfriend say she passed the briefcases to someone Thompson found online, representing a company that was supposed to keep them safe. Maybe keep them in the storage facility. Maybe take them to Belize.

And from there, who knows what happened with the gold? Perhaps Thompson and his girlfriend made up the story to keep the fortune for themselves. Possibly, the person who took the coins made off like a bandit.

Or maybe, after continuing on with this story, by reading between the lines of Thompson’s tale, you’ll know exactly where to find the gold.

Before you start putting Xs on a map, here is a bit of background on Thompson. It begins in the mid-’80s in Columbus, Ohio, a Rust Belt city suffering at the time from a string of major closures. Westinghouse and the Ohio Penitentiary were among the places where thousands got pink slips.

Maybe after a string of bad luck, people in Columbus were ready for a get-rich-quick plan—which is what Thomas G. “Tommy” Thompson offered them....