Mountain Province Diamonds (MPV-T) CEO Patrick Evans opened his breakfast talk at Roundup Monday morning with a macro look at global diamond supply and demand, through the lens of Canadian production. Evans painted a somewhat dire picture, saying that Canada’s No. 3 position as a diamond producer is threatened because of “paltry” dollars being spent… Continue Reading

As a child growing up in England, Paul Brockington used to enter stock-picking contests run by the Daily Mail newspaper. Later, having spent a decade as a Winnipeg-based mining analyst for Richardson, Brockington was in a position to recognize the potential significance when Chuck Fipke’s Dia Met Minerals drilled the discovery hole that launched the… Continue Reading

Given the current inclement state of the diamond industry, I thought it would be useful to take a few steps back and break the convoluted dynamics of the industry down into the simplest fundamental concept in economics: supply and demand. Despite the fact that the diamond industry is heavily concentrated, and still possesses tones congruent… Continue Reading

There hasn’t been much from the miners or E&P’s to get excited about this year.  One exception (there are always exceptions) is Lucara Diamond (LUC.TSX).  Not surprisingly it’s a Lundin Group company.  Shares of Lucara are up 40% year-to-date, but even that return doesn’t reflect the true state of their operations. After the market closed today the company released its Q3 results… Continue Reading

James Kwantes of The Vancouver Sun has a new story out on veteran mining executive Randy Turner and diamond exploration in Canada’s arctic. “Turner said Russian diamond exploration experts helped discover Snap Lake with the help of a wooden panning tray made from Siberian pine. Ridges in the pine separate the lighter material from the… Continue Reading

LUC data by YCharts Lucara Diamond (LUC:TSX), announced this morning that its Board has approved a $0.02 per share semi-annual cash dividend.  This move is the first for the Lundin Group of Companies and highlights the stability of the Karowe mine’s diamond production.  The $0.02 dividend is to be declared in May with payment in June. … Continue Reading

Originally posted on WorldofMining.com Diamond explorer Peregrine Diamonds (PGD) released the second and final batch of results from its bulk sample of the CH-6 kimberlite pipe at its 100% owned Chidliak project on Baffin Island, and they were good. Very good. Here’s the news release. Batch C returned a grade of 2.87 carats per tonne, including… Continue Reading

Lucara Diamonds (LUC:TSX), the African diamond producer and Lundin Group company, announced its 2014 operational and financial outlook.  The company is forecasting revenues of $150 – $160 million in 2014 on 400,000 – 420,000 carats of diamonds being sold.  This includes the assumption that Lucara will have two ‘exceptional’ stone tenders, although this may be conservative given… Continue Reading

The Lundin Group’s Lucara Diamond Corp. (TSX:LUC) jumped 11.3% in early trading Friday after the company announced a greater than $1 billion increase in the estimated in-situ value of the Indicated mineral resource at the Karowe diamond mine in Botswana. The growth is credited to the company’s consistent recovery of large and exceptional stones at… Continue Reading

Click here to watch the BNN interview.  Andrew Bell: We’ve seen a couple of downgrades, BMO and RBC, they say nothing wrong with the company, just the stock’s got above their valuation. William Lamb: I think the way we would see that is they are basing on information which is available in the market. The… Continue Reading

By James Kwantes, World of Mining Eric Friedland’s Peregrine Diamonds released news this morning that moved the stock 52%, to 64 cents, by the time markets closed. A 222-dry-tonne bulk sample from the company’s CH-6 kimberlite returned an impressive grade of 2.7 carats per tonne and 48 diamonds larger than 1 carat, including a 3.54-carat stone. CH-6… Continue Reading

D. Grenville Thomas’s North Arrow Minerals Inc. (TSXV-NAR) has made Canada’s newest diamond discovery at the Pikoo project in central eastern Saskatchewan. North Arrow tested a 209.7 kg sample of drill core from the PK150 kimberlite, which has returned 745 diamonds larger than the 0.106 mm sieve size, including 23 diamonds larger than the 0.85 mm sieve size, according… Continue Reading

The Lundin Group’s Lucara Diamond Corp. (TSX:LUC) reached a 52 week high of $1.25 Friday, with shares in the African diamond producer closing at $1.23 on approx. 700,000 shares. Lucara’s shares have more than doubled since the company entered production at its 100% owned Karowe diamond mine in Botswana in August, 2012 (Related: A New Age… Continue Reading

Peregrine Diamonds stock was introduced to a cliff earlier today when the company disclosed that DeBeers has elected not to exercise its option for 50.1% of Peregrine’s Chidliak diamond project on Baffin Island. Shares dropped from yesterday’s close of 65 cents down to the low-30s, before bouncing to 41.5 cents at the time of writing.… Continue Reading

Global Mining Observer published a colourful interview with Martin Rapaport, chairman of the Rapaport Group and founder of the Rapaport Diamond Report. Here’s an excerpt: In rented cars and a bullet-proof vest, Martin Rapaport has taken a perilous route to becoming the diamond industry’s most influential body. Every week his Rapaport Group publishes the ‘Rap… Continue Reading