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Tuesday, October 16, 2007 4:06:02 AM
Alrosa is having a conference here in Belgium until Tuesday night.
They are explaining that they need to use new distributors to sell the "rough" diamonds they are producing in Russia.
Russia will became the N°1 Exporter of "rough" diamonds in the years to come.
The two main reason who make GBDX so attractive is :
1-They have one of the three export licence to export russian diamonds in the US
2-End of february Russia decided to lift the limits in % of "rough" diamonds you can polished out of the country (India and China increase margins).
SIB-ALMAZ it's a new company created by Alrosa to sell diamonds in the East coast USA.
The new 300M A/S was related to the increase of the Short shares (from 270M NSS end June to 445M now).
Actual numbers :
-ALMAZ control 1.1B shares (800M Control block + 200M Restricted share + 100M from open market)
-450M shares float
-450M shares short
-Total O/S 900M (50% NSS)
Before the 300M A/S increase they where under 50% control.
ALMAZ NOW WE NEED A BONE !
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