Stornoway Diamond (TSE:SWY) reports an update on activities within its portfolio of Canadian diamond exploration projects. Currently, Stornoway’s principal focus is the completion of a Feasibility Study at the 50% owned Renard Diamond Project in North Central Quebec, and an associated step-out drill program at Renard (see Stornoway Press releases dated July 22, 2010 and August 26, 2010). [...]
Stornoway Diamond (TSE:SWY) reports exploration drilling begins in the fall at the Renard diamond project, North Central Québec, Canada. The upcoming drill program is a continuation of a step-out program of deep drilling first initiated last winter (Stornoway Press Release dated April 14, 2010), and is designed to assess the size and composition of several kimberlite pipes outside [...]
Diamond prices have largely recovered from the 2008 global economic crisis, but the industry is still not back to pre-2008 levels of demand.
Stornoway Diamond (TSE:SWY) reports a pre-development agreement for the Renard diamond project. The PDA has been developed on the principle of mutual respect between the parties, and the interests of all in seeing the establishment of a successful diamond mining venture at Renard. It provides for business and employment opportunities for the Crees during the period [...]
Namibia is having to contend with strong under currents these days. The economic recession has put paid to the country's main life-line: diamond exports. The road ahead?
Traders, cutters, and retailers are all warning that the diamond business’ struggles will cause a restructuring of the entire industry.
The day after Thanksgiving has long been known as “Black Friday”, a moniker that denotes the fact that it is on that day that retailers go from being in the red, to the black. Many stores open as early as 4 am, coaxing shoppers through their doors with ‘once a year’ sales.
Here at diamond investing news, we have been following how the financial crisis has been impacting the industry. For a brief summary over the past few months, it was not until the end of September that dropping revenues became an issue to diamond industry participants.
Diamond prices have held their own this year, despite the markets impetuous downward spiral. Prices of top gems have been keeping the finances rolling while mid grade mass consumed diamonds sales slumped. Now, as the crisis deepens, Diamond prices are under pressure.
Canada has become a hot bed of diamond mining activities in recent years. Not only are diamond mines in Canada finding top quality gems, Canadian diamonds are increasing in popularity due to the stigma of “conflict diamonds” attached to the gems that come from overseas.
Tuesday, September 7, 2010