Diamonds in the news: Blina IPO highlights Aussie diamond revival.
Excerpt:
The search for diamonds in Australia has broken a few hearts over the past three decades, yet the diamond sector here is once again attracting some avid investor interest.
Aside from a couple of exceptions, diamond hopefuls in Australia have generally only discovered the last of the five important “Cs” – not carats, cut, clarity or colour, just the cash that’s been blown.
Many a big and small name has come up empty-handed in Australia over that period such as Stockdale Prospecting, Joseph Gutnick’s stable of juniors and a host of other pretenders. But buoyed by a thriving world rough diamond market, there are distinct signs that another wave of diamond equities and diamond exploration optimism has swept this country.
The latest to strike while the iron’s hot is emerging Western Australian diamond miner – and the only company producing diamonds in Australia at the moment apart from Rio Tinto – Kimberley Diamond Company [ASX:KIM], who listed on the ASX in 1994 (around the time of the last Aussie diamond revival) and had a few lean years itself before acquiring the Ellendale diamond project from Rio for A$23 million three years ago.
Posted by GilbertZ at 11:46 PM
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