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Thabex Court Case Relating to Angel Diamonds Postponed

Thabex Limited shareholders are advised that the Case relating to Angel Diamonds (Proprietary) Limited (Case number: CIV/APN/333/2010) in the High Court of Lesotho was to be heard on 30 August 2010. The Case has been postponed to 6 October 2010 in order for the Court to finalise the security for costs by the applicants in [...]

Diamond Production Low but Diamond Prices Encouraging for Namibian Resources Since DIamond Produciton Recommenced

NAMIBIAN RESOURCES Plc has announced its final results for the year ended 28 February 2010.
The year to 28th February 2010 was disappointing as expected due to the cessation of production at Sonnberg following the near collapse of the international diamond market and soaring fuel costs. Our staffing was greatly reduced and care [...]

Shear Minerals Ltd. Closes $13.1 Million Private Placement Offering and Purchase of Jericho Diamond Mine

Shear Minerals Ltd. has successfully closed its marketed private placement equity offering (the “Offering”) and the completion of its purchase of the Jericho diamond mine and related assets in Nunavut (the “Jericho Acquisition”).
The Offering
Under the Offering, 139,451,000 conventional units (“Conventional Units”), each consisting of one common share (a “Common Share”) and one Common Share purchase [...]

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Alrosa May Cut Staff by 800


Next year’s plan for Alrosa’s financial activity, including a reduction of staff by between 600 to 800 people, was discussed at the company’s recent board meeting.
Key objectives of the plan include the continuation of exploration works, the maximum preservation of jobs, reducing the company’s loan portfolio and the cost of maintenance, and the priority of the investment budget of the construction of underground primary complexes.
The personnel reduction includes granting leave without pay, or providing part-time employment.
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