Ali Pastorini: Selling just the idea of glamour is no longer enough

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 1000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

21 may 2018

Diamonds are shifting from occasional to daily wear

Joy Alukkas started his first jewellery showroom in UAE in the year 1987, and today the Joyalukkas Group is a multi-billion global conglomerate with varied business interests. Beginning with a single jewellery room in Abu Dhabi, Joy Alukkas has grown...

14 may 2018

GJC has played a crucial role in the last 10 years in improving the compliance level in the industry

Coming from a renowned family of jewellers based in Akola, Maharashtra, Nitin Khandelwal heads Khandelwal Jewellers (Akola) Pvt Ltd. He has interests in the Plastic industry, Real estate, Health & Recreation and Cold storage industries as well...

07 may 2018

Johnson: ASM diamond sector a potential new source of supply for De Beers

De Beers recently said that it is planning to pilot a programme called GemFair that will create a “secure and transparent route” to market for ethically-sourced artisanal and small-scale mined (ASM) diamonds. GemFair would partner with the Diamond...

03 may 2018

Zimnisky: Hard to protect lab-diamond price as production methods, economics improve

Paul Zimnisky, an independent diamond industry analyst and consultant, said it will be very difficult for the lab-diamond manufactures to protect price as production processes and economics improve. He told Rough & Polished’s Mathew Nyaungwa in an exclusive...

23 april 2018

Stellar raises funds for Tongo environmental licences, working capital

14 september 2017
Stellar Diamonds has conditionally raised £330,000 through the issue of 10,1 million new ordinary shares for 3.25 pence per share.
The London listed diamond development company had also proposed to raise up to £200,000 at 3.25 pence each through an open offer.
Subject to completion of the placing, investors participating in the placing would be considered qualifying shareholders for the purpose of the open offer, it said.
Stellar said the net proceeds of the placing and open offer would prioritise payment of the Tongo environmental licence and renewal of the Tonguma environmental licence.
The licences were estimated to cost $250,000.
“Once the Tongo mining licence is issued fiscal terms may be negotiated and ratified via the Sierra Leone Government and Parliament respectively,” it said.
“Furthermore, funds will be allocated to ongoing costs related to the Tongo-Tonguma project in Sierra Leone, general working capital, and the payment of certain existing creditors whilst the company continues to progress debt and equity financing to bring the high grade and high value 4.5 million carat Tongo-Tonguma project into production.”
The Tongo mining licence was approved by the Minerals Advisory Board in Sierra Leone, subject to the payment of the Tongo environmental licence. 
Meanwhile, Stellar said that the disposal of its Guinea projects and assets was “progressing with further due diligence, audit and tax affairs being finalized”.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished


Only registered users can add comments (Register, Login)