NEWS

Richemont’s 2018 Interim Report

Richemont’s 2018 Interim Report

Richemont, the Swiss luxury goods group, announces the publication of its interim report and accounts for the six months ended 30 September 2018. According to the report, the six-month period ended 30 September 2018, sales increased by 21% at actual rates to € 6.81 billion. Excluding YNAP and Watchfinder, collectively the Online Distributors, sales for the period grew by 6% at actual exchange rates and by 8% at constant exchange rates.

 

Here is to count Richemont’s Online move! On 26 October 2018, they announced a strategic partnership with Alibaba Group, the preferred online marketplace for Chinese consumers, aiming at becoming a significant and sustainable online destination in luxury shopping for the important Chinese clientele. YNAP and Alibaba will establish a joint venture to bring the in-season offerings of YNAP to Chinese consumers, be it in China or whilst travelling abroad.

 


HK Magnificent Jewels auction on 27

HK Magnificent Jewels auction on 27

On 27 November, Christie’s Hong Kong will hold its Magnificent Jewels auction, featuring over 260 lots of exquisite and rare jewels. The focal point of the season is The Peacock Necklace, a superb Kashmir royal blue sapphire and diamond necklace is estimated to fetch HK$95,000,000 - 120,000,000/US$12,000,000 - 15,000,000.

 

Also leading the season is an array of spectacular diamonds, exceptional gemstones, including: a superb 10.04 carats Burmese Pigeon’s Blood ruby and diamond ring (estimate: HK$54,000,000 - 68,000,000/US$6,750,000 - 8,500,000), The Moon Of Baroda, a 24.04 carats fancy yellow VS2 diamond necklace is estimated to bag HK$HK$4,000K - 6,000K/US$500K – 750K.

 


 

Continued Weakness in Capital Flows

Continued Weakness in Capital Flows

External Imbalances & Financing Risks

 

Aggravate financing challenges!

 

Elevated Financing Risks for Corporates

 

The cost of financing could remain elevated

 

Expected a gross borrowing of INR6.47tn in FY19

 

According to Arindam Som, Analyst & Soumyajit Niyogi, Associate Director of IndRa, a sustained tightening of monetary condition coupled with challenging external environment is likely to aggravate financing challenges for Indian corporates against the backdrop of not-so-benign domestic credit market, says India Ratings and Research (Ind-Ra).

 

The agency previously highlighted that corporate credit spreads are likely to widen owing to the pressure on capital account in an environment of twin deficit, i.e. combined fiscal and current account deficit. An analysis of the top 500 debt-heavy corporates indicates that a gross borrowing of INR6.47 trillion (including refinancing) is expected in FY19.

 


Botswana Diamonds holds Sunland by 100%

Botswana Diamonds holds Sunland by 100%

Sunland is no more a JV, it is acquired 100%

 

According to Botswana Diamonds that the company now holds 100% of the equity in Sunland Minerals, having acquired for a nominal sum the 50% previously held by Alrosa as part of the Company's joint venture with Alrosa for the Sunland JV.

 

Initially Botswana Diamonds had 50% of holding & now, acquires remaining 50% of Sunland from Alrosa thus, the Company's 100% ownership allows for a new investor to enter as a new joint venture partner. Obligatory work could begin in the first half 2019 focussing on targets identified in 2018.

 



Mountain Province saw a high price for lower qualities

Mountain Province saw a high price for lower qualities

Latest diamond sale of Mountain Province announced

 

High price for lower qualities rough!

 

Slight increase in the rough price of lower qualities & smaller sizes

 

The latest diamond sale of Mountain Province is closed on November 14th 2018. These results include the sale of fancies and specials to De Beers Canada as part of the previous production split, where De Beers Canada was the successful bidder.

 


BK16 could be a high value diamond producer

BK16 could be a high value diamond producer

BK16 diamonds are like AK6-Karowe mine

 

Most of BK16 diamonds are of D color

 

Tsodilo Resources hikes Diamond Valuation of BK16

after Independent Modelled Valuation & Grade Results

 

Tsodilo Resources Limited has announces BK16 Independent Modelled Diamond Valuation and Grade Results Model Price - US$ 710 to US$ 386 Per Carat Model Grade - 11 to 8 cpht.

 

Tsodilo Resources announces the results of an independent modelled grade and diamond value for an aggregate 77.94 carat parcel of 502 commercial size (+1mm) diamonds. Which were recovered from Large Diameter Drilling (LDD) from four kimberlite units of the BK16 kimberlite pipe in the Orapa Kimberlite Field, Botswana.

 


China Gold revenue up by 46% in 9M 2018

China Gold revenue up by 46% in 9M 2018

Gold production tumbles at China Gold Q3

 

Gold production of CSH Mine falls by 28% 

 

China Gold books loss yet Q3 revenue up by 61%

 

China Gold International Resources reports on the Company’s financial and operational results for the three Q3 2018 and nine months ended September 30, 2018. According to the report, revenue increased by 61% to US$158.8 million from US$98.5 million for the same period in 2017. Yet, Net profit after income taxes decreased from US$17.4 million for the 2017 period to a loss of US$4.6 million in 2018, mainly driven by foreign exchange loss of US$11.0 million.


Evara’s pays tribute to daughters of Today

Evara’s pays tribute to daughters of Today

Evara’s new collection pays tribute to daughters

 

Platinum Evara’s new collection

 

11 rare women, 11 rare stories and

11 pieces crafted from rare platinum

 

An ode to Daughters of Today

 

When daughters lead, it creates change in society. Daughters of today are altering and widening the narrative around us. They are questioning norms, reinventing age old practices, amending gender dictates’& building support for their vision of a progressive, equal opportunity world . What’s vital is that they are doing it all with values that are becoming increasingly rare. With courage, perseverance, benevolence, warmth, empathy they choose paths of positive transformation.

 



Conflict diamonds definition in KP Plenary!

Conflict diamonds definition in KP Plenary!

The European Union hosts this year's plenary meeting of the Kimberley Process in Brussels, Belgium is being opened up from 12 to run untill 16 November. This Plenary meeting is discussing latest developments in the implementation of the Kimberley Process Certification Scheme and wider diamond governance, as well as the ongoing reform agenda of the Kimberley Process.

 

World Diamond Council (WDC) urges Support for Strengthening the Kimberley Process by Expanding the Definition of Conflict Diamonds while the KP Plenary session on! The Proposed Definition and Principles for Responsible Sourcing Further Support the Reform Agenda and Industry’s Efforts in Raising Standards to Meet and Exceed Consumers’ Expectations! 

 



Alrosa sells large rough in Vladivostok

Alrosa sells large rough in Vladivostok

Alrosa, the largest diamond mining company in the world, has summed up the results of the auction in Vladivostok for the sale of large special size rough diamonds (over 10.8 carats).

 

The company has sold 119 gem-quality rough diamonds with the total weight of 1,890 carats. The overall revenue from sales reached $10.3 million. 26 companies, representing global diamond trading centers, were recognized as winners in various diamond positions.

 


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