again Rappaport Diamond NEWS:
Rapaport TradeWire - Friday, February 15, 2008
---------------------------------------------
News: U.S. Valentine’s Day sales weak. De Beers takes $521m loss for
2007 due to weak U.S. dollar with sales -3% to $6.84b. DTC sales were
-4% to $5.9b. Indian trade wants government to provide low interest
dollar loans as overseas banks cut credit lines. Blue Nile 4Q-07 sales
+23% to $112m, profits +31% to $7.5m, but stock plummets 20% on
company warning of little to no growth for 2008 due to weak economy.
U.S. 2007 polished imports +10% to $18b; polished exports +24% to
$11b. Dec. polished imports +17% to $1.3b, polished exports +41% to
$1b; Christie’s 2007 jewelry sales +11% to $395m. India Jan. polished
exports +21% to $1.3b; polished imports +228% to $517m; rough imports
+9% to $892m. Rio Tinto 2007 diamond sales +22% to $1b with diamond
profits +33% to $280m. Gold jewelry demand (4Q-07) -17% to 586 tonnes
with India -67% to 54 tonnes due to surging prices.
=============
ANNOUNCEMENTS
=============
=== RAPAPORT NY PAWN SHOP TENDER ===
Original, inexpensive and medium priced
parcels direct from one of America’s
largest pawn shops.
Mar. 10-13, 2008
Tender close: Mar. 13, 6:00 EST
212-354-9800 ext 221 or 234
Email: pawntender@diamonds.net
Viewing by appointment only
=== RAPAPORT AT INHORGENTA ===
MUNICH - GERMANY
Pavilion C1 Booth 401 Feb. 15-18, 2008
- INDEX® – Internet Diamond Exchange
- RapNet® - Diamond Trading Network
- Rapaport Diamond Report
For appointments / information contact
Francesco Lopresti -- francesco@diamonds.net
+39 0444 961145
============================================
=== RAPAPORT AT MACAU ===
The Cotai Strip Convention Center
Feb. 28 - Mar. 2, 2008
Booth ME17
Julius Zheng : julius@diamonds.net
+86-135-0177-8251
========================================
=== RAPAPORT AT HONG KONG ===
Mar. 4-8
Hall 5, 5M41
Julius Zheng : julius@diamonds.net
+86-135-0177-8251
========================================?
============
RETAIL QUOTE:
============
"With the world developing --and the weak dollar-- there is
increasingly demand overseas for great American products. That is why
we are offering diamonds to 12 new international markets in Europe and
across Asia. There's disposable income that was never there before.”
---Mark Vadon, chief executive of Blue Nile
==========
WORLD NEWS:
==========
---USA Dec. Imports/Exports (YTD = year to date)
Dec.'07 %Chng YTD %Chng
($Mil) ($Mil)
Polished Imports $1,292 17% $18,117 10%
Polished Exports $1,007 41% $11,323 24%
Net Polished $285 -27% $6,794 -8%
Rough Imports $104 89% $849 6%
Rough Export $73 66% $490 11%
Net Rough $31 182% $359 0%
Diamond Account $316 -21% $7,153 -7%
---India Jan. Imports, Exports
---USA Dec. Imports/Exports (YTD = year to date)
Dec.'07 %Chng YTD %Chng
($Mil) ($Mil)
Polished Imports $1,292 17% $18,117 10%
Polished Exports $1,007 41% $11,323 24%
Net Polished $285 -27% $6,794 -8%
Rough Imports $104 89% $849 6%
Rough Export $73 66% $490 11%
Net Rough $31 182% $359 0%
Diamond Account $316 -21% $7,153 -7%
---India Jan. Imports, Exports (YTD= year to date)
Jan.'08 %Chng YTD %Chng
($Mil) ($Mil)
Polished Exports $1293 21% $1293 21%
Polished Imports $517 228% $517 228%
Net Polished $776 -15% $776 -15%
Rough Imports $892 9% $892 9%
Rough Exports $45 -31% $45 -31%
Net Rough $847 12% $847 12%
Diamond Account ($71.42) N/A ($71.42) N/A
---Namibia: Int'l Firms Should Aid Local Diamond Trade
Namibia's diamond commissioner Kennedy Hamutenya said he wants more
international investors to import diamond-polishing skills and
technology to Namibia to enable the country to compete with China and
India in the diamond-processing sector. Government officials from
Liberia and Sierra Leone also emphasized the need for their local
populations to share in the downstream benefits of diamonds.
---Ganz Disputes Rough Shortages
The Israel Diamond Institute (IDI) chairman Moti Ganz disputed claims
that there were shortages of rough and polished in the pipeline. Ganz
called upon producers to refrain from the use of tenders and auctions,
which he said hurts manufacturers and in the long-run the producers
themselves. Rough diamonds have no value without the manufacturers,
Ganz said, and added they must receive a rough supply on a regular
basis according to periodic, fixed sortings.
---Penny Urges Industry to Focus on China, India and Joint Marketing
Ventures
De Beers' managing director Gareth Penny called upon the industry to
include new markets --China and India-- in their growth strategy in
order to ensure continuous diamond demand. He also proposed the
industry as a whole should be collaborating on the marketing side of
the business as De Beers would no longer being doing it alone.
---Minister Kudrin: No Plans for ALROSA IPO
Russia's finance minister Alexei Kudrin said ALROSA was not planning
an initial public offering (IPO,) despite earlier reports. Kudrin, who
is also the head of ALROSA’s supervisory board, said ALROSA's
restructuring from a closed to an open joint-stock company was under
consideration. The government is in the process of raising its stake
in ALROSA from 37 percent to 50 percent plus one share. ALROSA
estimates $109.3 billion worth of diamond reserves available to the
company during the next 35 to 45 years.
---Platinum Surges to $2,025oz.
Platinum reach new highs as South Africa power supply concerns deepen.
The precious metal hit a record $2,025 per ounce after having
retreating to $2,009 in late trading across Europe Thursday morning,
up 23 percent from its Wednesday close in New York.
---Gold Demand -17% in 4Q07
Global gold demand in the fourth quarter of 2007 dropped 17 percent to
843 tonnes due to a sharp drop in jewelry buying from India. Total
jewelry consumption for the fourth quarter also plunged 17 percent to
585.7 tonnes hurt by near-record prices and a surge in volatility,
according to the World Gold Council. India's jewelry consumption
dropped 67 percent to 54 tonnes in the fourth quarter. Total gold
supply for the fourth quarter was 945 tonnes, up 1 percent partly due
to lower-than-anticipated scrap supply. Old gold scrap was 277 tonnes,
up 14 percent. Gold imports for India in January fell 91.9 percent to
five tonnes. Consumers across India too were selling gold in local
markets, which diminished the need for jewelers to buy gold from
outside the country the Association found.
---Rapaport Weekly Broadcast
Jewelry sales deteriorate further in January as consumers in the
United States bought only necessities; extensive coverage of the Third
International Rough Conference in Israel; and the Diamond Dealers Club
in New York discusses an upcoming vote on term limits.
Watch Now:
http://www.diamonds.net/news/NewsItem.aspx?ArticleID=20652?
========================
RETAIL & WHOLESALE NEWS:
========================
---Blue Nile 4Q Sales +23%, Profits +31%
Blue Nile's profits rose 31 percent to $7.543 million for the quarter
ending December 31, 2007. Sales rose 23 percent to $111.9 million.
International sales rose 155 percent to $7.2 million during the
quarter. The number of orders rose 14.9 percent and the average order
was about $1,411. Gross profit for the quarter grew 26 percent to
$23.7 million, and gross profit as a percentage of sales increased to
21 percent for the quarter, up 0.4 percentage points from fourth
quarter of 2006. Blue Nile's outlook for first quarter was flat and
shares lost 20 percent in value after the announcement.
---De Beers Takes $965M Hit in Canada, Reports $521M Loss in '07
De Beers net earnings fell into the red from a profit of $730 million
in 2006 to a loss of $521 million in 2007 in part because the company
was forced to make a $965 million adjustment on fixed assets against
Canada's robust currency. The cost included additional increases from
long-term fuel costs, labor, and construction operations in Canada.
Underlying earnings rose 14 percent to $483 million. De Beers sales
companywide fell 3 percent in 2007 to $6.836 billion. Diamond sales
fell 3 percent to $6.422 billion, while non-diamond sales rose 2.5
percent to $414 million. Cost of sales fell 2.5 percent to $5.46
billion. Cash on hand rose 4 percent to $844 million, and capital
expenditures rose 18 percent to $1.12 billion in 2007. Diamond
inventory and other assets rose 6 percent to $1.885 billion. Rough
demand was strong in 2007 for the Diamond Trading Company, but sales
slipped 3.7 percent to $5.92 billion.
---Birks & Mayors 3Q Sales +6%, Profits -35%
Retail chain Birks & Mayors Inc. reported a sales increase of 6.4
percent to $122.6 million for its third quarter ending December 29,
2007. Same-store sales fell 6 percent. Net income fell 35 percent to
$12.7 million. Gross profit was $59.5 million, or 48.5 percent of net
sales, down from a 50 percent margin on $57.6 million one year ago.
---Tsutsumi Jewelry Rev. +1%, Profits -11%
Integrated jeweler Tsutsumi Jewelry Co. of Japan reported that revenue
rose 0.7 percent to JPY23.01 billion ($214.4 million) during the first
nine months of fiscal 2007, ending December 31, 2007. The company
recovered from a two-percent drop in sales during the first half of
the year. Operating profits fell slightly to JPY4 billion ($37.3
million,) and net profits fell 11 percent to JPY2.2 billion ($20.5
million) for the first three quarters.
---Christie's 2007 Jewelry Sales +11% to $395M
Christie's jewelry sales increased 11 percent in 2007 to $394.7
million, but the rate of growth was much lower than the 27 percent
increase in sales registered for 2006. Natural pearls, diamonds (both
colored and colorless,) Kashmir sapphires and contemporary jewels
performed very well in 2007. In the Americas, revenue rose 8.8 percent
to $120.1 million. Sales rose 14 percent in Europe to $186.8 million
with London posting its best year ever at $47.2 million (up 19.2
percent.)
---UK: ZS Diamonds 4Q Online Sales +42%
Steven Stone Limited's online division, ZS Diamonds, reported a 42
percent increase in diamond ring sales for its final quarter of 2007
leading up to Christmas. The company did not provide financial data.
The Manchester (UK) based jeweler found that the most popular
engagement rings sold during the period where platinum engagement
rings, princess cut diamond rings, and classic brilliant diamond
engagement rings.
---Collectors Universe Rev. +14%, Loss Widens from Jewelry Services
Expansion
Collectors Universe Inc.'s net revenues rose 13.6 percent to $9.96
million during its second quarter of fiscal 2008. The company widened
its loss to $1.443 million, or 17-cents per diluted share, up from a
$100,000 one year ago. The company continues to invest heavily in
gemstone services.
---Amazon Claims 4Q Diamond Sales Double Again
Without citing actual figures, Amazon.com reported that diamond sales
rose more than 100 percent in fourth quarter of 2007 -- a period for
which included Christmas. One year ago, Amazon reported diamond sales
rose by triple-digits as well. Sales for Amazon in fourth quarter
across all product categories rose 42 percent to $5.7 billion and
profits rose 111 percent to $207 million.
---USA: Number of Large Brands Support 'No Dirty Gold' Effort
Five of the nation's leading jewelry retailers --Tiffany & Co., Ben
Bridge Jeweler, Helzberg Diamonds, Fortunoff, and Leber Jeweler,
Inc.-- pledged their support to permanently protect Alaska's Bristol
Bay watershed from large-scale metal mining, including the massive
proposed Pebble gold mine. The retailers, who represent $2.2 billion
in sales for 2006, took this step at the invitation of local Alaskans,
who seek to protect wild salmon, clean water, and traditional ways of
life from the damaging effects of industrial metal mines.
---Yehuda Diamonds Vows to Fight Blue Nile Action Aimed at Halting
Price Comparisons
The Yehuda Diamond Company has told a federal court in Washington
State that it has done nothing wrong in comparing the price and
appearance of its clarity-enhanced diamonds to those natural
non-enhanced stones sold by competitor, Blue Nile Inc. In defending
itself against a lawsuit filed by Blue Nile, Yehuda Diamond said in a
related statement that “consumers have an absolute right to know how
much they stand to save by shopping with us and we will defend that
right vigorously both in court and the marketplace.”
---Tiffany 'Cautious' for U.S., Expects Healthy Int'l Growth
Tiffany & Co.'s fiscal year 2008 began February 1, and the company has
provided guidance for the next 12 months, with "cautious" planning for
the first half of the fiscal year in the United States and more robust
growth planned internationally. Tiffany forecasts a 10 percent
increase in sales worldwide for 2008. The sales increase for the
United States would approach a high-single digit percentage, but
low-single digit same-store increase. Based upon these sales
assumptions, Tiffany plans for a mid-single digit percentage increase
in net earnings and a low-double digit increase in diluted earnings
per share (a range of $2.50 to $2.55.) This compares with an estimated
range of $2.25-$2.28 per diluted share (excluding various one-time
items) in fiscal 2007.
---Theo Fennell Quits His Company
Theo Fennell, despite posting trend-buckingly buoyant Christmas sales
figures, announced that he was relinquishing his post as creative
director of the company that he founded 26 years ago and was standing
down from its board.
---China's New Year Retail Sales Rise 16%
Consumer spending surged 16 percent during China’s weeklong festival.
The data was surprising considering how winter weather had stranded
millions just as the festive season was to begin. Government figures
suggested that consumers spent about 255 billion yuan ($34.9 billion,)
which was up from 219.8 billion yuan one year ago. The government
attributed the increase in sales to marketing awareness and stable
prices. High-end household appliances, digital products, jewelry and
thick overcoats became hot sellers in major cities.
==================
CURRENCY EXCHANGE:
==================
U.S. $ to currencies in Europe, India, Canada, South Africa.
Feb. 14 Chng. Feb. 7
$1 = €0.68 -€0.01
$1 = ZAR 7.70 ZAR 0.02
$1 = CAD 1.00 -CAD 0.01
$1 = INR 39.60 INR 0.15
===========
STOCK WATCH:
===========
For the period ending February 7, 2008
Indices: Feb. 14 Feb. 7 Chng. Chng.
Dow Jones Avg. 12,376.98 12,247.00 129.98 1.06%
Yahoo! Jewelry Index 910.84 910.76 0.082 0.01%
USA
Abazias $2.00 $2.00 $0.00 0.00%
Anglo American $30.09 $28.54 $1.55 5.43%
Birks & Mayors $4.91 $4.91 $0.00 0.00%
Blue Nile $44.15 $52.57 -$8.42 -16.02%
Charles & Colvard $1.43 $1.80 -$0.37 -20.56%
Collector's Universe $10.31 $11.25 -$0.94 -8.36%
DGSE Companies, Inc. $4.85 $4.95 -$0.10 -2.02%
Finlay $1.16 $1.17 -$0.01 -0.85%
Fuqi International $9.99 $9.75 $0.24 2.46%
House of Taylor $0.25 $0.34 -$0.09 -26.04%
JCPenney $45.90 $47.44 -$1.54 -3.25%
Kohl's $44.85 $45.85 -$1.00 -2.18%
Lazare Kaplan $9.45 $9.45 $0.00 0.00%
LJ International $3.34 $3.20 $0.14 4.37%
Macy's $24.12 $25.11 -$0.99 -3.94%
Movado Group $24.82 $24.86 -$0.04 -0.16%
Nordstrom $36.11 $37.67 -$1.56 -4.14%
Saks $17.20 $17.67 -$0.47 -2.66%
Signet $12.78 $12.27 $0.51 4.16%
Sotheby's $34.10 $31.98 $2.12 6.63%
Tiffany $39.13 $38.18 $0.95 2.49%
Wal-Mart $49.93 $49.84 $0.09 0.18%
Zale $16.01 $17.82 -$1.81 -10.16%
EUROPE
Bulgari €7.80 €7.50 €0.30 4.00%
LVMH €70.50 €68.95 €1.55 2.25%
Pinault P-R SA €93.37 €90.54 €2.83 3.13%
Richemont SA CHF 61.85 CHF 59.15 CHF 2.70 4.56%
Swatch Group CHF 296.75 CHF 286.25 CHF 10.50 3.67%
LONDON (pence)
African Diamonds 85.0 85.0 0.0 0.00%
BHP Billiton 1,566.0 1,469.0 97.0 6.60%
Firestone Diamonds 132.6 117.5 15.1 12.85%
Gem Diamonds 930.0 931.0 -1.0 -0.11%
Mano River 8.6 8.8 -0.2 -1.83%
Mwana Africa 37.0 35.5 1.5 4.23%
Namakwa Diamonds 127.3 136.8 -9.5 -6.95%
Petra Diamonds 129.1 129.0 0.1 0.09%
Rio Tinto plc 5,555.0 5,222.0 333.0 6.38%
Theo Fennell 71.0 72.5 -1.5 -2.07%
INDIA
Classic Diamond INR 78.75 INR 81.40 -INR 2.7 -3.26%
Gitanjali Gems INR 283.60 INR 310.00 -INR 26.4 -8.52%
Rajesh Exports INR 128.25 INR 133.10 -INR 4.8 -3.64%
Reliance INR 2,514.70 INR 2,425.00 INR 89.70 3.70%
Su-Raj Diamonds INR 62.35 INR 68.90 -INR 6.6 -9.51%
Zodiac JRD INR 32.65 INR 35.90 -INR 3.3 -9.05%
Suashish Diamonds INR 243.65 INR 249.70 -INR 6.0 -2.42%
CANADA
Harry Winston (Aber) CAD 25.50 CAD 24.51 CAD 0.99 4.04%
Mountain Province CAD 4.29 CAD 4.20 CAD 0.09 2.14%
Peregrine Diamonds CAD 0.38 CAD 0.37 CAD 0.01 2.70%
Rockwell Diamonds CAD 0.52 CAD 0.52 CAD 0.00 0.00%
Shore Gold CAD 4.35 CAD 4.14 CAD 0.21 5.07%
Stornoway Diamond CAD 0.66 CAD 0.67 -CAD 0.01 -1.49%
Tahera Diamond CAD 0.08 CAD 0.07 CAD 0.01 14.29%
True North Gems CAD 0.38 CAD 0.38 CAD 0.00 0.00%
NEW ZEALAND
Michael Hill NZD 1.05 NZD 1.15 -NZD 0.10 -8.70%
============
GENERAL NEWS:
============
---Kuwait Lawmakers Look to Ban Valentine's Day
While newspapers across Kuwait boasted a number of jewelry
advertisements for Valentine's Day and shops decorated with red
balloons and hearts, lawmakers in the Gulf state have taken issue with
celebrating the day. Islamic leaders, who control a sizable bloc in
Parliament, believe westernized holidays are corrupting young Muslims
and they are hoping to amend legislation and prevent future
commemoration of Valentine's Day.
--Myanmar to Host Gem Show in March
Myanmar will host its annual gem show in March. The 45th annual
Myanmar Gems Emporium will take place March 9-to-12, 2008. The event
will showcase quality gems, jade, pearls and jewelry produced in
Myanmar, and the items will be sold both through competitive bidding
and at fixed prices. The United States and the European Union have
implemented economic sanctions against Myanmar.
---India: GJEPC Asks Gov't to Promote Dollar Financing
The Gem and Jewellery Export Promotion Council (GJEPC) asked the
government to facilitate dollar financing since overseas banks are
unwilling to extend dollar credit lines. The local banks are offering
rupee loans which carry a higher interest rate. GJEPC chairman Sanjay
Kothari said credit finance in rupee terms works out more expensive
for the exporter as interest rates are higher. Also, they lose money
while converting the currency.
---IGI Opens Lab in New Delhi
The International Gemological Institute (IGI) opened its 12th
laboratory, its fourth in India, at Karol Bagh, New Delhi. Until the
launch of its New Delhi lab, IGI had been attending to the city’s
customers via its mobile laboratory.
===================
INDIA MARKET REPORT:
===================
---Polished:
Polished: A few financial failures to the tune of $2-$4 million and
rumors about big players in financial difficulties in the local market
have stunned the market. Crash of local stock market is one of the
main reasons. Rumors of financial difficulties in the U.S. have made
local markets over cautious.
-1 point: Very good demand: +$225 whites.
Good demand: $80-$100 & $125-$150 whites.
-2 point: Good demand: +$250 whites.
Fair demand: $175-$225 whites, $70-$90 LB & $125-$150 TTLB.
2-7 point: Very Good demand: $300-$425 & $500-$550 whites.
Good demand: $225-$275 & $450-$490 whites.
Fair demand: $100-$150 TTLB & $70-$90 LB.
8-18 point: very good demand: $750-$850 whites.
Good demand: $300-$450 whites.
Fair demand: $150-$175 whites & $150-$200 TTLB.
20 points: Good demand: $200-$400 whites.
Fair demand: +$600 whites.
25 points: Fair demand: $200-$450 & +$700 whites.
33 points: Good Demand: $150-$500 whites.
50 points: Very good demand: +$2,000 whites.
Good demand: $1000-$1,500 & $700-$800 whites.
Fair demand: $300-$500 whites.
75 points: Very good demand: +$3,000 whites.
Good demand: $700-$900 whites.
1 carat+: Very good demand: +$5,000 whites
Good demand: $1,500-$3,000 whites.
Fair demand: $500-$800 whites.
Princess: -3 point: Fair demand: $200-$250 & $325-&350 whites.
+3 point: Fair demand: $$250-$300 & $350-$450 whites.
+9-18 point: Good demand: +14 pts $600-$650 whites
Fair demand: $225-$275 & $300-$400 whites.
20 point: Fair demand: $350-$400 whites & $750-$800 whites.
25 point: Fair demand: $350-$400 whites.
50 point: Fair demand: $600-$1,000 whites.
75 point: Fair demand: $1,200-$1,400 whites.
1 carat+: Good demand: +$1,500 whites.
Marquise: -6 point: Very good demand: $400-$500 whites.
Good demand: $250-$350 whites.
+7-18 point: Very good demand: $500-$650 & +14-point $850-
$900 whites.
Good demand: $225-$300 & +14-point $300-$350
whites.
20 point: Good demand: $675-$725 & $950-$1000 whites.
Fair demand: $325-$375 whites.
25 point: Good demand: $1,000-$1,100 whites.
Fair demand: $400-$450 whites.
33 point: Good demand: $500-$600 whites.
Fair demand: $1,200-$1,400 whites.
50 point: Good demand: $1,600-$1,800 whites.
Fair demand: $700-$800 whites.
75 point: Good demand: $1,100-$1,400 & $2,600-$3,000 whites.
1 carat+: Very Good demand: +$1,200 whites.
Tapers & Baguettes:
Good demand: $550-$800 +5mm whites. $225-$300 2mm-2.5mm whites;
$300-$350, 2.5mm-3mm whites; $350-$450 3mm-4mm,
$500-$600 4mm -
5mm & $175-$250 +2mm-3mm whites.
---ROUGH: Local rough market is very slow. Some activity continues for
fancy shapes I+/VS1+ which yields marquise and pears.
1-5 point: Very good movement: $70-$110 makeables; $80-$150 crystals.
Good movement: $20-$60 makeables.
Fair movement: $5-$20 OW TTLB & TTLC.
6-20 point: Good demand: $125-175 crystals; $110-$140 makeables.
Fair demand: $40-$130 makeables; $60-$80 clivage;
$50-$100 makeables; Very good movement $80-$180;
Fair demand $60-$120 fancy shapes;
$50-$80 OW TTLC & TTLB rounds.
21-50 point: Good demand: $225-260 makeables; $150-$275 crystals.
Fair demand: $100-$200 rounds; $100-$150 crystals; $70-
$130 clivage; Very good movement $140-$220 and
Fair demand $75-$100 fancy shapes; $20-$50 OW TTLC &
TTLB.
0.51-1.00 carat: Good demand: $80-$125 & $130-$300 makeables;
$125-$250 & $300-$400 crystals.
Fair demand: $70-$100 clivage; Very good demand $225-
$300 and Fair demand $70-$125 fancy shapes;
$90-$125 OW TTLC & TTLB.
1.01-2.00 carat: Fair demand: $225-$600 rounds; $225-$800 crystals;
$125-$170 clivage; $200-$400 all fancy shapes.
2.01-3.00 carat: Good demand: $225-$1,500 makeables; $500-$1,000 OW
TTLC & TTLB & $350-$1,700 crystals.
Fair demand: $300-$400 clivage; $125-$400 flats &
$500-$1,000 fancy shapes.
5.00 carat+: Very good demand: $1,200+ makeables, crystals & all fancy
shapes till L color.
Mixed Lot: Good demand: $2-$50.
===========
MINING NEWS:
===========
---Rio Tinto Diamond Sales +22%, Profits +33%
Rio Tinto diamond sales grew 21.7 percent to $1.02 billion in 2007
despite reporting a drop in production. The company's net earnings
from diamond operations increased 32.7 percent to $280 million.
---Harry Winston Seeks New Mining Ventures
Harry Winston Diamond Corporation is seeking acquisition opportunities
in Canada and Africa to complement its Diavik mining operation. Harry
Winston retail meanwhile does not anticipate contracting sales during
the company’s third fiscal quarter as was the case in second quarter.
---Gem Diamonds Appoints Director for Kimberly Diamond
Gem Diamonds announced the appointment of Alistair Croll as managing
director of the company’s newly acquired Kimberley Diamond Company
effective February 25. Croll joins the company with vast experience in
the international resources industry.
---Tahera Investment Loss Hits Teck Cominco
Mineral miner Teck Cominco Ltd profits fell 68 percent in fourth
quarter to $280 million. While much of the profit loss came from
non-diamond mines, the company recorded an after-tax write-down of $51
million related to its investment in Tahera Diamond, and two zinc
mines.
---Pangea DiamondFields Closes $15M Private Placement
Pangea DiamondFields plc closed its private placement of 16.5 million
ordinary shares at 46-pence per ordinary share for gross proceeds of
approximately $15 million. Admission of the ordinary shares to trading
on AIM is expected to occur on February 12.
---Vaaldiam Recovers 15ct Record Diamond at Duas Barras
Vaaldiam Resources recovered a 15.68 carat diamond at its Duas Barras
mine in Brazil, the largest stone found at the site to date. The
“yellow octahedral” far outweighed the average diamond size of 0.37
carats at the alluvial mine and beat the mine's previous record of an
8.68 carat stone, the company reported.
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Discover 
http://www.diamondnews.com
http://www.diamonds.net
http://www.mineweb.co.za/mineweb/view/mineweb/en/page37
The Diamond Hunter
http://www.thediamondhunter.com/site/index.php
Directory of Public Companies, Non-Metallic Mining:
http://www.crmz.com/Directory/Industry130.htm
ABER Diamonds ABER http://www.forbes.com/free_forbes/2007/0312/080.html?partner=yahoomag
Canadian Diamond Stocks http://latestdiamonds.com/
Venture Exchange Diamond Strategies http://brysonburke.com/investing_organize_data.html
Very recent Bloomberg article on Diamond Stocks being HOT
http://www.bloomberg.com/apps/news?pid=20601087&sid=aDEsqQnA.tZg&refer=worldwide_news
Dig Your Own and Keep Them in Arkansas http://www.craterofdiamondsstatepark.com/
gbdx SAOL nile afa.v gzdif dmdd nsdm aber dmxp afcdf pdmdf sldjf fogtf gwsdf MDM ggl.v TSDRF
SAOL: http://www.investorshub.com/boards/read_msg.asp?message_id=18559350
TSD.V .. pinksheets TSDRF
AI
