Southstone Minerals recovers many large, high quality diamonds

Southstone Minerals Ltd. [SML-TSXV] provided a production and operational update for December 1, 2019, to February 28, 2020 (Q2 2020), and March 1 to May 31, 2020 (Q3 2020), on its project portfolio in South Africa.

The Oena Project consists of one New Order Mining Lease located in the Northern Cape Province, South Africa. Oena is 8,800 hectares in size and covers a 4.8-km wide strip along a 15-km length of the lower Orange River. Southstone owns 43% of African Star Minerals (Pty) Limited which owns 100% of the property.

Southstone continues to focus and prioritize its efforts on the alluvial Oena diamond mine. There is currently one mining contractor on site using eight pan plants to process run-of-mine (ROM) material and one Bourevestnik (BVX) unit used for diamond recovery.

Production results for both Q1 and Q2 were impacted as a result of the mandatory closure of the mine for the period from March 26, 2020, to May 3, 2020, due to COVID-19. A total of 803.92 carats (112 diamonds) were produced, placed on tender and sold with an average price of US $1,957 per carat.

Bluedust Carats produced No. of stones US$/carat

Q2 2020 ROM 588.14 77 1,942

Q3 2020 ROM 215.78 35 2,001

The Oena diamond mine continues to produce very large and high-quality diamonds. For example, 52.62 carats (sold for US $127,975), 44.25 carats (US$243,000), and 37.03 carats ($188,962). Twenty other stones were greater than 10 carats.

Kwena Group, Republic of South Africa

Shareholders approved the disposition of the Kwena Group on May 15, 2020, and the company received final approval from the TSX Venture Exchange on the May 25, 2020. This disposition of the Kwena Group resulted in a total of 4,527,416 shares being returned to treasury and the forgiveness of outstanding indebtedness of the equivalent of $1.2-million.

Southstone agreed to settle an outstanding debt of $35,430 to two creditors by issuing 708,600 shares at $0.05 per share, subject to TSXV approval.

Source: DCLA

Southstone Minerals recovers many large, high quality diamonds

Southstone Minerals Ltd. [SML-TSXV] provided a production and operational update for December 1, 2019, to February 28, 2020 (Q2 2020), and March 1 to May 31, 2020 (Q3 2020), on its project portfolio in South Africa.

The Oena Project consists of one New Order Mining Lease located in the Northern Cape Province, South Africa. Oena is 8,800 hectares in size and covers a 4.8-km wide strip along a 15-km length of the lower Orange River. Southstone owns 43% of African Star Minerals (Pty) Limited which owns 100% of the property.

Southstone continues to focus and prioritize its efforts on the alluvial Oena diamond mine. There is currently one mining contractor on site using eight pan plants to process run-of-mine (ROM) material and one Bourevestnik (BVX) unit used for diamond recovery.

Production results for both Q1 and Q2 were impacted as a result of the mandatory closure of the mine for the period from March 26, 2020, to May 3, 2020, due to COVID-19. A total of 803.92 carats (112 diamonds) were produced, placed on tender and sold with an average price of US $1,957 per carat.

Bluedust Carats produced No. of stones US$/carat

Q2 2020 ROM 588.14 77 1,942

Q3 2020 ROM 215.78 35 2,001

The Oena diamond mine continues to produce very large and high-quality diamonds. For example, 52.62 carats (sold for US $127,975), 44.25 carats (US$243,000), and 37.03 carats ($188,962). Twenty other stones were greater than 10 carats.

Kwena Group, Republic of South Africa

Shareholders approved the disposition of the Kwena Group on May 15, 2020, and the company received final approval from the TSX Venture Exchange on the May 25, 2020. This disposition of the Kwena Group resulted in a total of 4,527,416 shares being returned to treasury and the forgiveness of outstanding indebtedness of the equivalent of $1.2-million.

Southstone agreed to settle an outstanding debt of $35,430 to two creditors by issuing 708,600 shares at $0.05 per share, subject to TSXV approval.

Source: DCLA

Three exceptional diamonds sell at auctions.

The first a heart shaped gem was a 5.04 carat fancy vivid blue heart modified brilliant cut diamond with VS2 clarity. The stone is mounted on a platinum ring flanked by two pear-shaped diamonds. It achieved more than $10.5 million USD, making it the top lot at the Sotheby’s auction.

The second was a 4.49 carat heart modified brilliant cut, internally flawless, fancy vivid pink diamond. It’s mounted on an 18k white gold ring flanked by pear shaped diamonds. It achieved more than $8.1 million USD. at the high end of its estimate, making it the number three lot of the sale.

The buyer or buyers for both lots is unknown at this time and there is no indication whether a single person purchased both fancy colored diamonds.

A 12.11-carat fancy intense blue diamond sold for $15.9 million CHRISTIE’S

A 12.11 carat fancy intense blue diamond sold for $15.9 million USD at Christie’s Hong Kong Magnificent Jewels auction. The internally flawless marquise shaped, brilliant cut gem was sold during a long, drawn out bidding process that was gradually narrowed down to two phone bidders, as seen through the auction house’s live stream.

It blew past its $12.3 million high estimate with a hammer price of $13.6 million which doesn’t include the buyer’s premium. The price per carat was $1.31 million.

Source: DCLA

Three exceptional diamonds sell at auctions.

The first a heart shaped gem was a 5.04 carat fancy vivid blue heart modified brilliant cut diamond with VS2 clarity. The stone is mounted on a platinum ring flanked by two pear-shaped diamonds. It achieved more than $10.5 million USD, making it the top lot at the Sotheby’s auction.

The second was a 4.49 carat heart modified brilliant cut, internally flawless, fancy vivid pink diamond. It’s mounted on an 18k white gold ring flanked by pear shaped diamonds. It achieved more than $8.1 million USD. at the high end of its estimate, making it the number three lot of the sale.

The buyer or buyers for both lots is unknown at this time and there is no indication whether a single person purchased both fancy colored diamonds.

A 12.11-carat fancy intense blue diamond sold for $15.9 million CHRISTIE’S

A 12.11 carat fancy intense blue diamond sold for $15.9 million USD at Christie’s Hong Kong Magnificent Jewels auction. The internally flawless marquise shaped, brilliant cut gem was sold during a long, drawn out bidding process that was gradually narrowed down to two phone bidders, as seen through the auction house’s live stream.

It blew past its $12.3 million high estimate with a hammer price of $13.6 million which doesn’t include the buyer’s premium. The price per carat was $1.31 million.

Source: DCLA

21 Carat Colombian Emerald Sells For Nearly $1.2 Million

A 21.52 carat untreated Colombian emerald fetched nearly $1.2 million at Phillips Hong Kong Jewels and Jadeite July auction. The gem sold within estimates all sales include buyer’s premium. Described by the auction house as “exceptional and very rare,” it was the top lot in an otherwise mixed sale where several important lots were left on the block.

Among the items that didn’t sell was the top lot heading into the auction: a 20.25 carat internally flawless fancy vivid yellow diamond set on a diamond ring. Its estimate was $1.1 million to $1.5 million. It was withdrawn prior to the sale. Another item that was withdrawn was a necklace featuring 11 fine oval jadeite cabochons surrounded by brilliant cut diamonds and linked by marquise and pear shaped diamonds set on 18k white gold. Its estimate was $808,000- $1 million.

In addition, a very fine pair of fine jadeite cabochon earrings set on white gold did make it to the block but failed to find a bidder. Its estimate was $750,000 to $1.1 million.

Harry Winston 12.55 carat diamond ring sold for $1.1 million PHILLIPS

An important signed jewel that failed to attract a buyer was a one of a kind Peacock bangle by Chopard. The elaborate high jewelry creation is notable for its resplendent tail feathers that wrap around the wearer’s wrist. This design, marked by numerous details, is adorned with 7,500 gems that required hundreds of hours of study and work. Its estimate was $230,000 to $280,000.

Items that did do well in the sale held on July 8 at the JW Marriott Hong Kong were signed Harry Winston jewels and emeralds, such as the top lot.

Harry Winston Colombian emerald and diamond ear clips sold for $370,960 PHILLIPS

The number two lot in the sale was a a 12.55 carat rectangular step-cut diamond set on a vintage platinum ring, 1953. The D/IF type IIa diamond sold for $1.1 million, within estimates. In addition, a “very fine” pair of 4.52 and 4.44 carat step-cut Colombian “no oil” emerald and diamond ear clips from the famed New York jeweler sold for $370,960, within estimates. A pair of classic diamond cluster ear clips totaling 21.63 carats sold for $209,673, within estimates.

A 6.38 carat cushion-shaped emerald mounted on a platinum and 18k gold ring surrounded by diamonds by Bulgari fetched $403,218, within estimates.

Karen Suen conch pearl, pink diamond and diamond necklace sold for $217,737 PHILLIPS

Three jewels featuring gem quality conch pearls by contemporary Hong Kong jewelry designer, Karen Suen, were part of the sale. One of the three jewels, a conch pearl, pink diamond and diamond necklace fetched $217,737, within estimates. The other pieces, a pair of earrings and a ring made of conch pearls and diamonds failed to sell.

Source: DCLA

21 Carat Colombian Emerald Sells For Nearly $1.2 Million

A 21.52 carat untreated Colombian emerald fetched nearly $1.2 million at Phillips Hong Kong Jewels and Jadeite July auction. The gem sold within estimates all sales include buyer’s premium. Described by the auction house as “exceptional and very rare,” it was the top lot in an otherwise mixed sale where several important lots were left on the block.

Among the items that didn’t sell was the top lot heading into the auction: a 20.25 carat internally flawless fancy vivid yellow diamond set on a diamond ring. Its estimate was $1.1 million to $1.5 million. It was withdrawn prior to the sale. Another item that was withdrawn was a necklace featuring 11 fine oval jadeite cabochons surrounded by brilliant cut diamonds and linked by marquise and pear shaped diamonds set on 18k white gold. Its estimate was $808,000- $1 million.

In addition, a very fine pair of fine jadeite cabochon earrings set on white gold did make it to the block but failed to find a bidder. Its estimate was $750,000 to $1.1 million.

Harry Winston 12.55 carat diamond ring sold for $1.1 million PHILLIPS

An important signed jewel that failed to attract a buyer was a one of a kind Peacock bangle by Chopard. The elaborate high jewelry creation is notable for its resplendent tail feathers that wrap around the wearer’s wrist. This design, marked by numerous details, is adorned with 7,500 gems that required hundreds of hours of study and work. Its estimate was $230,000 to $280,000.

Items that did do well in the sale held on July 8 at the JW Marriott Hong Kong were signed Harry Winston jewels and emeralds, such as the top lot.

Harry Winston Colombian emerald and diamond ear clips sold for $370,960 PHILLIPS

The number two lot in the sale was a a 12.55 carat rectangular step-cut diamond set on a vintage platinum ring, 1953. The D/IF type IIa diamond sold for $1.1 million, within estimates. In addition, a “very fine” pair of 4.52 and 4.44 carat step-cut Colombian “no oil” emerald and diamond ear clips from the famed New York jeweler sold for $370,960, within estimates. A pair of classic diamond cluster ear clips totaling 21.63 carats sold for $209,673, within estimates.

A 6.38 carat cushion-shaped emerald mounted on a platinum and 18k gold ring surrounded by diamonds by Bulgari fetched $403,218, within estimates.

Karen Suen conch pearl, pink diamond and diamond necklace sold for $217,737 PHILLIPS

Three jewels featuring gem quality conch pearls by contemporary Hong Kong jewelry designer, Karen Suen, were part of the sale. One of the three jewels, a conch pearl, pink diamond and diamond necklace fetched $217,737, within estimates. The other pieces, a pair of earrings and a ring made of conch pearls and diamonds failed to sell.

Source: DCLA

Over 4,000 diamonds seized in Lucapa

At least 4,429 unevaluated diamond stones in the possession of a French citizen were seized last Sunday in Lucapa, eastern Lunda Norte province, National Police have said. ,

The detention was a result of a police investigation following several tip offs on clandestine sale and purchase of diamonds in the residence of the French citizen, said the police note reached Angop.

The operation also led to the seizure of USD 3,350 euros, two scales, three magnifying glasses, four diamond shovels. 

The transparency operation which was extended to the maritime coast in March 2019 aimed to curb diamond traffic and illegal migration.

The French citizen has been detained and will be forwarded to the Public Ministry Office in the next days.    

From January to May this year 125 diamond tones (still to be rated), USD 1,700 and 55,000 kwanzas were seized.

Source: DCLA