NEWS
Record production at Lulo and Mothae
Lucapa
Diamond Company reports a record monthly diamond production results from both
the Lulo and Mothae high-value diamond mines for August 2019. The record
monthly production figures for Lulo and Mothae come on the back of the
Company’s growth-focused strategy, leading to the scaling up of production at
both mines to maximise revenue generation and returns.
Lulo
alluvial mine, Angola:
The
Lulo mine in Angola is the world’s highest average US$ per carat alluvial
project, produced 3,180 carats in August, the highest monthly result since
production commenced in 2015. A significant factor contributing to this record
was the monthly grade of 13 carats per 100 cubic metres, which is almost twice
the planned grade of 6.7 cphm3.
Now the HK September show review needed?
Now right
with the beginning of September, all eyes are on Hong Kong Jewellery & Gem
Fair 2019, which is scheduled to run during September 16 to 20 at AsiaWorld Expo
& from September 18 to 22 at Hong Kong Convention & Exhibition Centre.
By keeping chin up, organisers bravely says, “Rumours about the fair’s alleged
cancellation/postponement have in fact resulted in increased interest on the
show’s exhibitor profile and contents.”
No doubt,
the ongoing protests in HK remained peaceful untill the first 10 weekend
protest. Yet, scenario was changed. From the 11th weekend protester
had been seen little aggressive as police used more ways to curb them. Now the
protest entered in to the 13th straight weekend. According to the
pre announcement & media report as of 31 August about 1mn or more people
had joined the protest march. And they changed their strategy to protest by dispersing in the Kowloon
city!
GIA Education Available in Shenzhen
Aspiring
gem and jewelry professionals in Shenzhen, China will now have direct access to
GIA (Gemological Institute of America) education programs through Peking
University Resource College. Starting in 2020, the college will offer GIA’s
Jewelry Design, Graduate Diamonds and Blended Graduate Diamonds courses, and
lab classes for Diamond Grading, Colored Stone Grading, Gem Identification and
Pearl Grading, as well as access to GIA student workrooms.
Rainbow Invisible Tourbillon by Franck Muller
The
renowned Swiss luxury watchmaker Franck Muller showcases a grand complication
that represents the pinnacle of high watchmaking and jewellery setting – the
Rainbow Invisible Setting Tourbillon. The Rainbow Invisible Setting Tourbillon
is a ground-breaking masterpiece that boasts a highly complex baguette diamond
setting on an in-house tourbillon movement.
Breguet’s Grandes Complications collection
Breguet’s
Grandes Complications collection had thus far not been graced with a Grand Feu enamel
dial. With the new Classique Tourbillon Extra-Plat 5367, the inventor of the
tourbillon regulator enriches the collection with a long-awaited Grand Feu enamel
version.
Classique
Tourbillon Extra-Plat 5367 provides a beautiful and simple interpretation of
the tourbillon, which reigns supreme on a minimalist dial. Contrary to
reference 5377 presented in 2013, this edition has no power-reserve indicator.
In order to draw the gaze to the key element, Breguet has opted for a graphic
hand-bevelled tourbillon bar, topped by a spinel.
GDP for the Q1 announced!
The National Statistical Office (NSO), Ministry
of Statistics and Programme
Implementation has released the estimates of Gross Domestic Product (GDP) for
the first quarter (April-June) Q1, of 2019-20, both at Constant (2011-12) and
Current Prices, along with the corresponding quarterly estimates of expenditure
components of the GDP.
Applicability of TDS on cash withdrawals
Effect
from 1st September, 2019
In
order to discourage cash transactions and move towards less cash economy, the
Finance (No. 2) Act, 2019 has inserted a new section 194N in the Income-tax
Act, 1961 (the Act), to provide for levy of tax deduction at source (TDS) @2%
on cash payments in excess of one crore rupees in aggregate made during the
year, by a banking company or cooperative bank or post office, to any person
from one or more accounts maintained with it by the recipient. The above
section shall come into effect from 1st September, 2019.
Pangolin Finds Diamonds in Soil Samples
Pangolin
Diamonds finds two additional diamonds in Soil Samples at MSC; Acquires Two New
Prospecting Licences; Renews Six of Its existing prospecting Licences at its
wholly owned projects in the Republic of Botswana.
According
to the given highlights which include, detailed soil sampling program in the
MSC Project recovers 17th and 18th diamond. Renewal of
six Prospecting Licences and addition of two new Prospecting Licences & High-density
ground magnetic surveys identifies additional pipe-like anomalies.
Dynacor Reports profit since last 33’ Quarter
Dynacor
Gold Mines reports its financial results for its 2Q ended June 30, 2019. The
unaudited condensed consolidated financial statements and the management’s
discussion and analysis (MD&A) for the three-month and six-month periods
ended June 30, 2019, have been filed electronically too. For the three-month
period ended 2Q 2019, Dynacor completed its thirty third (33rd) consecutive
quarter of profits with a net income of $0.8 M per share, compared to $1.3 M for
the same period of 2018.
Mining operations are progressing well in Brazil
Brazil
Minerals announced that its alluvial diamond and gold project mining operations
are progressing well and within its plans for production in the third quarter
of 2019. This project is in the Jequitinhonha River Valley of the state of
Minas Gerais, Brazil, and in a district known for retrieval of diamonds and
gold for over two centuries. Brazil Minerals, through subsidiaries, has title
to over 27,000 acres of mineral rights for diamonds and gold in this region.