Sarine Q3 books 22%profit QoQ

Sarine Technologies Ltd announced its financial results for the third quarter and 9-months ended 30 September 2019. According to the Q3 2019 and 9M 2019 Financial Results Review, the Group’s operating environment continued to be challenging in Q3 2019. Midstream activities remained subdued with the same issues continuing to impair diamond polishing activity, namely credit tightening policies imposed by Indian banks, albeit less an issue somewhat in Q3 as compared to H1 2019 excess inventory issues eased due to less rough stones entering the production pipeline, dampened consumer sentiments in the Chinese and Hong Kong markets.

Reliance Jewels opens new Showroom

Reliance Jewels, one of India’s most trusted jewellery brands, has launched its grand new showroom at Manpada Road, Dombivali (East).The showroom will display a wide range of exclusive traditional & contemporary Gold, Diamond & Solitaire jewellery. As the wedding season is here, the showroom will also showcase new hand-crafted pieces from Atulyaa & Wedding collection.

The new collection consists of statement necklace sets in 22Kt gold in antique &culcatti finish along with exquisite Diamond studded sets. The collection includes chokers, small & long style necklaces which are sure to sparkle this wedding season with grace.

Alrosa Q3 revenue decreased by 20%

Alrosa, the world’s leader in diamond mining, announces its IFRS financial results for Q3 2019. According to the result, revenue in Q3 2019 decreased by 20% q-o-q to RUB 46 bn on lower sales volumes (down 23% q-o-q), which was partially offset by higher average realised prices. A 35% y-o-y decline in revenue is attributable to lower sales (down 5% y-o-y) and a higher share of small-size diamonds.

EBITDA in Q3 2019 amounted to RUB 21 bn (down 16% q-o-q, down 47% y-o-y) on lower top line. EBITDA margin in Q3 2019 increased by 2 pp q-o-q to 46% (down 11% y-o-y). Free cash flow in Q3 2019 increased by 4% q-o-q to RUB 2.5 bn reflecting stronger operating cash flow along with a marginal increase in capex (up 2% q-o-q).

Oceana Revises Guidance on blockade

OceanaGold announces that due to the local government unit blockade impacting operations in the Philippines, it is revising full year guidance. With continued restraint of supplies to the Didipio Mine, and the timing of resumption uncertain, the Company has temporarily suspended processing following depletion of consumables necessary for sustained operations. This follows the suspension of underground mining in mid-July.

The Company now expects to produce between 460K and 480K ounces of gold along with 10K to 11K tonnes of copper for the full year. The Company's consolidated All-In Sustaining Costs (AISC) is now expected to range between US$1,040 and US$1,090 per ounce sold while the cash cost guidance has been revised to US$710 to US$760 per ounce sold.

GIA appoints Mark Buntz

GIA (Gemological Institute of America) has appointed Mark Buntz as senior vice president and chief marketing officer to lead all global marketing efforts and drive the future of the GIA brand. Buntz will support the expansion of GIA’s education, laboratory services including the new GIA Diamond Origin Report and instruments business into new markets and extend GIA’s 4Cs of Diamond Quality consumer outreach program. He succeeds Kathryn Kimmel, who retired in August after 30 years with GIA.

“Mark brings invaluable expertise with leading companies which have reached pinnacles of success in their fields,” said Susan Jacques, GIA president and CEO. “He is a proven innovator and a passionate storyteller who, with his enthusiasm and new perspective, will help advance GIA’s initiatives to connect with consumers and the gem and jewelry industry.”

SSR 3Q production recorded of 100K Oz

SSR mining reports third quarter 2019 operating results at three mines says, on track for higher annual gold production. SSR mining 3Q produced over 100K consolidated gold equivalent ounces from our three operations during the third quarter, and over 310K consolidated gold equivalent ounces year-to-date.

Record quarterly gold production at Seabee produced 32,345 ounces of gold. Gold mill feed grade reached 12.4 g/t and gold recovery was 98.8%, both quarterly highs for the operation under our ownership. Solid operating performance at Marigold produced 52,968 ounces of gold. Stacked 6.4 million tonnes of ore at a higher gold grade of 0.51 g/t. Total material mined was over 19 million tonnes, continuing to demonstrate strong and efficient operating practices.

Sarine AI based grading technology to Tiffany

Sarine Technologies announces that it is working with Tiffany & Co to adapt its automated artificial intelligence (AI) based grading technology to Tiffany’s stringent grading guidelines and criteria.

The aim to perfect the way diamonds are graded and to ensure consistent and accurate grading is a key element in securing consumers’ trust in diamonds. Over the past few years Sarine has invested significant R&D efforts and has been at the forefront of this quest, employing computer vision, advanced software algorithms, machine learning and artificial intelligence to realise technology-based AI-driven objective grading. Sarine’s automated grading technology substantially removes subjective human error and bias from the grading process, thus enabling a new level of accuracy, reliability and consistency.

Luminox watch debuts Navy Seal

Expanding upon its redesign of the hugely successful Navy Seal watches, Luminox debuts the Navy Seal Steel 3250 Series presenting five different models, including a blackout version. The handsome new design has the iconic Luminox ‘turtle-shaped’ case, with raised numbers and indices on the dial, and alternating brushed and high polish stainless steel accents on the case and bezel.

As with all Luminox watches, the muscular 45 mm stainless steel case is designed to stand up to extreme conditions. Its unidirectional ratcheting bezel and Sapphire Crystal with anti-reflective coating protect the dial. The steel series have a screw-down crown and case back ensuring water resistance to 200 meters and is available on a solid-link stainless steel bracelet, black genuine leather band or gray webbing strap.

Alrosa adds more techs for diamond trade

Following an announcement published by Alrosa, Alrosa, implementing Sarine's DiaExpert 3D-mapping, Galaxy inclusion scanning and other technology to augment Alrosa’s rough diamond auctions with detailed information pertaining to the offered rough stones.

During the October 2019 trading period Alrosa, for the first time, offered its clients to participate in Digital Tenders, where a full digital scan of each rough diamond was provided for detailed analysis. This enabled Alrosa’s customers to thoroughly evaluate the rough diamonds and make informed purchasing decisions based on comprehensive data regarding the offered goods.

B2Gold 3Q sales 208K ounces of Gold

B2Gold announces its operational and financial results for the third quarter (3Q) and first nine months (9M) of 2019. 3Q 2019 record quarterly consolidated gold production of 258K ounces, including El Limon and La Libertad, well-above budget by 7% (15,807 ounces) and 7% (16,160 ounces) over the same period last year with solid performances from all of the Company's operations.