By Vivien Diniz
Blue diamonds have been making headlines on the auction block. Here’s a look as to why.
Lucapa Diamond Company Ltd. (ASX:LOM) announced the recovery of more large special and fancy colored diamonds from its Angola-based Lulo diamond project. The gems were recovered as part of trial mining at the E46 alluvial terraces at Lulo.
Rapaport reported that the De Beers Millennium Jewel 4 was sold by Sotheby’s in Hong Kong for $31.8 million. That’s the highest price ever paid for a gem at an auction in Asia.
Rapaport reported that Sotheby’s expects to sell a blue diamond ring owned by the late Shirley Temple for $25 to $35 million. The auction house will also soon be selling the De Beers Millennium Jewel 4 at a separate sale in Hong Kong.
Carats is an international diamond brokerage firm based in Vancouver, BC, specializing in engagement and investment-grade diamonds.
2015 was difficult for the diamond market, but the diamond outlook for 2016 looks better. Experts Paul Zimnisky and Yaniv Marcus weigh in here.
CTV News reported that two diamonds, one blue and one pink, may set records when they are sold at major jewel auctions in Geneva. As those watching the market for colored diamonds are well aware, such high prices are becoming a trend.
Rapaport reported that Leibish & Co., a supplier of natural fancy colored diamonds of all shapes and sizes, won 26 of 65 available lots at Rio Tinto plc’s (LSE:RIO,ASX:RIO,NYSE:RIO) 2015 Argyle pink diamond tender.
Yaniv Marcus of the Diamond Investment & Intelligence Center published an article that looks at the concept of “wealth stealth,” which he describes as “the ability to store as much wealth as possible, in as little space as possible, in a physical form.”
Yaniv Marcus, founder of the Diamond Investment & Intelligence Center, is particularly positive about fancy colored diamonds, but also believes investors shouldn’t be worried about today’s low colorless diamond prices.
Valuation results for the bulk sample from the Q1-4 kimberlite at North Arrow’s Qilalugaq diamond project in Nunavut were not as good as expected. However, according to President and CEO Ken Armstrong, all is certainly not lost for the company, which still has other promising projects and cash in the
With 2015 now nearly at the half-year mark, Resource Investing News got back in touch with Yaniv Marcus to see if his forecasts have been accurate thus far. Interestingly, the diamond market has not had as easy a time as expected this year, with lower prices being a key issue.
The company’s share price has risen 41.05 percent since Monday alone.
President and CEO Ken Armstrong spoke to Resource Investing News about how work on bulk sample processing is progressing. He also explained what’s coming for North Arrow’s Saskatchewan-based Pikoo project.
After a trading halt midway through the day on Thursday, North Arrow Minerals released an update on the processing of a bulk sample from its Nunavut-based Qilalugaq diamond project.