Burgundy Diamond Mines Chief Exits

       Peter Ravenscroft. (Burgundy Diamond Mines)

Burgundy Diamond Mines managing director Peter Ravenscroft has resigned from the Australian company with immediate effect.

The board has appointed Kim Truter, who became nonexecutive chairman of the miner in December 2021, as interim CEO, Burgundy said last week.

Truter has over 30 years of experience in the alluvial and underground mining sector. He has also held executive positions at De Beers in Canada and with Rio Tinto’s diamond unit in Australia.

Meanwhile, Michael O’Keefe, who has been a nonexecutive director since 2017, will take over as executive chairman. He is the former CEO and current executive chairman of Champion Iron, which operates an iron-ore project in Canada. Burgundy has not announced whether it is looking for a long-term successor for Ravenscroft.

Source: Diamonds.net

Ellendale revival on the horizon with increased diamond value

Gibb River Diamonds has completed a review of the mothballed Ellendale diamond mine in Western Australia that will help it edge closer to a proposed restart.

The independent appraisal, which was completed by which was completed by Independent Diamond Valuers International (IDVI) valued gems from the Ellendale 9 East Lobe at $US750 ($1120) per carat.

This price represents a 20 per cent increase since 2008, largely due to the high number of fancy yellow diamonds unearthed at the West Kimberley-based mine.

With these results, a mine revival is looking ominous for the site, which was closed in 2015.

Last December, Gibb River Diamonds accepted an offer from the Western Australian Government apply for new tenements at the site.

“This review is important as it helps Gibb River Diamonds to make commercial decisions regarding mine planning and development priorities at Ellendale,” the company stated.

“Previous operators had a contract to sell the fancy yellow component of their production to Laurelton Diamonds (the jeweller Tiffany & Co).

“It is uncertain if similar premium prices can be achieved with any future fancy yellow goods.

“However, there is a potential opportunity to capitalise in the uniqueness of these fancy yellow goods to sell above market prices.”

The independent appraisal showed a further 18 per cent increase at the Ellendale 9 deposit to $US559 per carat since 2008.

The Ellendale 4 deposit also experienced an increase in value to $US135 per carat, representing a 5 per cent rise in 12 years.

IDVI uncovered 16 per cent fancy yellow diamonds within the Ellendale East Lobe, compared with 9 per cent in the West Lobe.

Gibb River has affirmed that as this information is based on generic sales data, future sales results could “vary significantly” from those in the report, as no sales have occurred since 2015.

Source: DCLA

Ellendale revival on the horizon with increased diamond value

Gibb River Diamonds has completed a review of the mothballed Ellendale diamond mine in Western Australia that will help it edge closer to a proposed restart.

The independent appraisal, which was completed by which was completed by Independent Diamond Valuers International (IDVI) valued gems from the Ellendale 9 East Lobe at $US750 ($1120) per carat.

This price represents a 20 per cent increase since 2008, largely due to the high number of fancy yellow diamonds unearthed at the West Kimberley-based mine.

With these results, a mine revival is looking ominous for the site, which was closed in 2015.

Last December, Gibb River Diamonds accepted an offer from the Western Australian Government apply for new tenements at the site.

“This review is important as it helps Gibb River Diamonds to make commercial decisions regarding mine planning and development priorities at Ellendale,” the company stated.

“Previous operators had a contract to sell the fancy yellow component of their production to Laurelton Diamonds (the jeweller Tiffany & Co).

“It is uncertain if similar premium prices can be achieved with any future fancy yellow goods.

“However, there is a potential opportunity to capitalise in the uniqueness of these fancy yellow goods to sell above market prices.”

The independent appraisal showed a further 18 per cent increase at the Ellendale 9 deposit to $US559 per carat since 2008.

The Ellendale 4 deposit also experienced an increase in value to $US135 per carat, representing a 5 per cent rise in 12 years.

IDVI uncovered 16 per cent fancy yellow diamonds within the Ellendale East Lobe, compared with 9 per cent in the West Lobe.

Gibb River has affirmed that as this information is based on generic sales data, future sales results could “vary significantly” from those in the report, as no sales have occurred since 2015.

Source: DCLA

Yellow diamond yielding mine back on the market

The Liquidated Ellendale mine in Western Australia, known for its fancy yellow diamonds is back on the market.

The Ellendale mine claimed to have yielded around half of the world’s supply of rare yellow diamonds during peak production.

Ellendale mine is located 120km east of Derby was also the main supplier of fancy yellow diamonds for luxury jewelry retailer Tiffany & Co.

Source: DCLA

Yellow diamond yielding mine back on the market

The Liquidated Ellendale mine in Western Australia, known for its fancy yellow diamonds is back on the market.

The Ellendale mine claimed to have yielded around half of the world’s supply of rare yellow diamonds during peak production.

Ellendale mine is located 120km east of Derby was also the main supplier of fancy yellow diamonds for luxury jewelry retailer Tiffany & Co.

Source: DCLA