News Archives

: Category: News Archives; Created: 13 May 2021; Hits: 438

The April price surge can be explained away by economic aberrations, but the Covid recovery is sure to include other scary surprises.

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: Category: News Archives; Created: 13 May 2021; Hits: 518

May 13, 21 by

(IDEX Online) - Mountain Province Diamonds has arranged a short-term $33m loan with Irish billionaire Dermot Desmond, to ease its "near term liquidity needs".

The Canadian miner has struggled with the three-week Covid-enforced closure of its Gahcho Kue mine (pictured), which in turn forced it to cancel its May diamond sale in Antwerp.

That, combined with the high costs of maintaining its winter access road, left it seeking funds from Desmond's Dunebridge Worldwide Ltd, which holds a 32 per cent stake.

Stuart Brown, the company's president and CEO, said a news release yesterday that he expected to make up the lost production, revenue and cash generation, allowing it to repay this loan by the end of the year.

Meanwhile Mountain Province turned last year's Q1 loss of $33.7m into a $6m profit for the first quarter of 2021.

It sold 603,000 carats in the quarter, with total proceeds of $42.7m, averaging $71 per carat....

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: Category: News Archives; Created: 13 May 2021; Hits: 526

"The Fed’s operating framework systematically tends towards the abuse of life, liberty, and property. If we want to fix this, we need to take a much closer look at the relationship between money and freedom. Only if we understand this relationship, philosophically, economically, and...

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: Category: News Archives; Created: 12 May 2021; Hits: 458

Throughout history, people have revered gold as a sign of wealth and a store of value. Today, gold is not only a precious metal but also a precious investment.

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: Category: News Archives; Created: 12 May 2021; Hits: 373

Runaway inflation. It occurs when prices for most goods and services not only rise but accelerate, making the cost of living steadily more expensive and shrinking the purchasing power of Americans’ earnings and savings.

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Diamond News Archives

Fear of Inflation Can Make It Happen: Bloomberg

$33m Loan helps Mountain Province through Covid Liquidity Issues

Monetary Control: Central Banks Today

A Golden Future: Visualizing The Economic Case For The Barbarous Relic

Why Are Fears of High Inflation Getting Worse?