Here’s a story the market missed. Diamond Fields International Ltd. (DFI:TSX) announced an average sales price of US$258 per carat for stones produced from offshore mining in the Diaz Prospect, Namibia.
The average was obtained from a parcel which included a 1.78ct fancy pink diamond which fetched US$25,888, based on a per carat valuation of US$14,544. Diamond Fields says that’s the highest per carat price ever received for an individual rough stone.
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admin on March 15th 2007 in Commodity investing, Diamond
Not all acquisitions by major mining firms are good for the shareholders of the companies acquired.
The conventional thinking is that juniors get bought out by majors at a premium, and while that’s often the case in a bull market, it doesn’t necessarily mean the common shareholders are going to benefit.
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admin on March 14th 2007 in Commodity investing
Shares of near term coal/copper producer QGX Ltd. (QGX.TSX) took a stroll today, rising $0.28 Cdn to $3.00 per share in early trading. The market is reacting to last week’s news release announcing NI 43-101 compliant approval for its copper/silver/gold resource at the Golden Hills project in Mongolia.
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admin on March 13th 2007 in Commodity investing
It looks like consolidation time in Canada’s Subury nickel camp is drawing near. First, HudBay Minerals Inc. (HBM.TSX) came out and said it’s considering North American nickel producers as potential merger candidates. Then UBS Securities Canada jumped on the bandwagon, calling FNX Mining Co. (FNX.TSX) a likely partner in such a scenario.
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admin on March 12th 2007 in Nickel
