Diamond Mining News
South African billionaire Wiese returns to his diamond-hunting roots ...
Feb 26, 2024 ... Industry observers say Wiese's revived passion for diamond mining may be riskier than any of the bets he's made in the retail sector, and ...
Canada's mild winter disrupts key ice road to remote Arctic diamond ...
4 hours ago ... ... diamond mines by 2030 and is looking for ways to keep mining alive. The lack of infrastructure is a challenge and the shortened seasonal use ...
Lucapa finds Lulo mine's fifth-largest diamond - MINING.COM
The 203-carat, type IIa diamond is also the third 100-carat-plus stone found at the Angolan mine this year.
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The upside to the downturn: extraordinary value' for selective investors
There's no doubt that the past few years have been tough on junior miners and those who invest in them. So tough in fact that the World Resource Conference put together each June in Vancouver by Cambridge House has been rebranded as the Canadian Investor Conference, with small-cap tech and "diversified" companies - including those juniors that have recently migrated to the burgeoning medical marijuana sector - invited in to shore up the exhibitors' list and bring in more investors. But while it's easy to dwell on the hardships exploration companies and those who invest in them have had to endure for the past three years, there is an upside to the junior mining industry's current malaise. A panel at the conference, which took place June 1-2, laid out several positives for investors wh...
Peregrine shares pop on 7.5M-carat maiden resource for Chidliak
Peregrine Diamonds (TSX: PGD) has unveiled a maiden resource for the CH-6 kimberlite at its Chidliak diamond project in Nunavut.CH-6 contains an inferred resource of 7.47 million carats in 2.89 million tonnes of kimberlite grading 2.58 carats per tonne. The resource extends to 250 metres depth and CH-6 is open at depth.A valuation of CH-6 diamonds conducted in February revealed an average diamond price of US$213 per carat.Beside and beneath the CH-6 resource, the company has defined a target for further exploration of 2.6 to 3.5 million additional tonnes. About half of that estimated tonnage (1.5 million tonnes) lies at shallow depths of between 105 and 250 metres depth, while the rest is between 250 and 380 metres depth. Peregrine is planning a core drilling program to convert the ta...
An adapt-or-die moment for junior miners
Newsletter writer and mining analyst John Kaiser sounds a little dejected as he describes the utterly bleak state of the mining industry today."The phones are completely dead, nobody cares," says the editor of Kaiser Research Online. "Companies can't raise money, it's like a complete dying sector."Kaiser made a now-famous prediction last year that around 500 juniors were bound for "extinction" because of an inability to raise capital, low share prices and negative sentiment on commodities.As of mid-May, that number has grown: Of the roughly 1,800 publicly listed TSX and TSXV companies involved in mining or exploration and listed in the KRO database, 694 had less than $200,000 in working capital - basically the amount needed annually to maintain a listing.Kaiser adds that about 70% of all...