Diamond News Archives

Vancouver-based explorer Golden Arrow Resources (TSX-V: GRG) has entered into a Definitive Agreement with Mineria Activa SpA to acquire up to 100% of the Indiana gold-copper project in Chile. Indiana is located approximately 35 kms from Golden Arrow’s new Atlantida copper-gold project.

The advanced-stage gold-copper project features a near surface deposit of high-grade gold and copper vein-hosted mineralization, with an historic resource estimate. The Indiana project includes an historic inferred mineral resource estimate of over 600,000 ounces of gold equivalent, 13,000 metres of diamond drilling completed in over 40 holes, 2,000 chip and trench samples and high potential for additional mineralization and new resources throughout the property.

“With the addition of the advanced-stage Indiana Project to the recently acquired Atlantida Project, we solidify our presence in Chile, emphasizing our commitment to the rapid identification of new resources,” Joseph Grosso, Golden Arrow’s President & CEO said in a media statement.

Terms for the Definitive Agreement are a $100,000 payment on signing, followed by $15M in payments staged over 48 months. Prior to Golden Arrow making the last payment of $7M at the end of year four, MSA has the option of retaining 25% of the project.

The post Golden Arrow options advanced stage Indiana gold-copper project in Chile appeared first on MINING.com....

NEW YORK, Oct 31 (Reuters) - The U.S. Mint sold 22,000 ounces of American Eagle gold coins in October, up 7.3 percent from the previous month, according to the latest data.
(in ounces) Gold Silver Platinum 2018 2017 2018 2017 2018 January 58,500 117,500 3,235,000 5,127,500 n/a February 5,500 27,500 942,500 1,215,000 20,000 March 3,500 21,000 915,000 1,615,000 n/a April 4,500 6,000 915,000 835,000 n/a May 24,000 15,500 380,000 2,455,000 10,000 June 24,500 6,000 435,000 986,000 n/a July 35,000 17,500 885,000 2,320,000 n/a August 21,500 9,500 1,530,000 1,025,000 n/a September 20,500 11,500 2,897,500 320,000 n/a October 22,000 15,500 1,405,000 1,040,000 n/a YTD Total 219,500 247,500 13,540,000 16,938,500 30,000 New York newsroom

(IDEX Online) – ALROSA, the world's largest diamond mining company, will hold an auction of special size rough diamonds (over 10.8 carats) and polished diamonds it has manufactured in Ramat Gan from November 4-22.<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>

The results of the auction will be announced on November 26.

The company will auction 127 large gem-quality rough diamonds with a total weight of 2,244 carats. More than 100 companies from Belgium, Hong Kong, Israel, India, UAE, the US and Russia have been invited to participate in the auction.

"The upcoming auction will be the last one planned by ALROSA in Israel this year, and we hope that, as in previous cases, our products will be in high demand among participants," said Evgeny Agureev, the Member of the Executive committee, Director of the USO ALROSA.

In addition to special size rough diamonds, the company will put up for sale polished diamonds manufactured by Diamonds ALROSA, the polishing branch of ALROSA. The total weight of polished diamonds is over 900 carats.

In accordance with Russian law, special size rough diamonds can only be sold via auctions. This year, ALROSA has held five rough diamond auctions in Ramat Gan. Total revenue from sales amounts to about $70 million.  ...

Africa-focused Gem Diamonds (LON:GEMD) said Wednesday it’s on track to meet its long-term targets, as third-quarter production rose 27% in the three months to Sep. 30, when compared to the same period last year.

The company, which has found over a dozen of huge precious rocks at its flagship Letšeng mine in Lesotho this year, now expects to recover 120,000 carats to 124,000 carats of diamonds for the year, helped by improved mining and consistent grade recoveries during the third quarter. It had earlier guided to a range of 114,000 carats to 118,000 carats.

Gem also revised up its diamond sales target to be between 118,000 carats to 122,000 carats in 2018, compared to a previous forecast of 112,000 carats to 116,000 carats. The company stuck to its target of $100 million in incremental revenue, productivity improvements and cost savings for a four-year period ending in 2021.

“Letšeng delivered solid production figures for the period with an increase in tonnes treated and carats recovered of 26% and 27% respectively compared to the previous period,” chief executive officer Clifford Elphick said in the statement.

“Post period-end, the thirteenth diamond greater than 100 carats for 2018 was recovered, resulting in the highest number of these recoveries in a single calendar year,” he noted.

Since acquiring Letšeng in 2006, Gem Diamonds has now found five of the 20 largest white gem quality diamonds ever recovered, which makes the mine the world’s highest dollar per carat kimberlite diamond operation.

Early in the year, it found the 910-carat “Lesotho Legend”, one of the largest diamonds ever discovered, and sold it for $40...