RAPAPORT... The New York State Supreme Court has convicted diamond dealer Nehal Modi of grand larceny in the first degree, concluding that the brother of infamous tycoon Nirav obtained more than $2.6 million in goods through fraud.The Antwerp-based former Samuels Jewelers CEO made false claims to LLD Diamonds to secure merchandise, Manhattan District Attorney Alvin Bragg, Jr., said in a state...Read More
RAPAPORT... Lisa Bridge, CEO of jewelry chain Ben Bridge, chats with Rapaport's Avi Krawitz about her recent appointment as president of the American Gem Society (AGS) and the mood among US jewelry retailers as they head into the second half of 2022. In this episode of the Rapaport Diamond Podcast, the two also discuss how the industry continues to evolve in the post-pandemic environment, some of...Read More
RAPAPORT... US e-commerce spending slowed in June to its lowest this year amid a move in the date of Amazon Prime Day and continued inflation, according to Adobe Analytics.Shoppers shelled out $74.1 billion online during the month, a rise of 1% year on year. However, that figure is 6% lower than the $78.8 billion spent in May and 5% less than April's total, Adobe said Tuesday. This year, Prime Day...Read More
RAPAPORT... The Baselworld fair has received much criticism in recent years, but one of the final shows before its public implosion appears to have facilitated a diamond deal that counts among the biggest in history.Antwerp-based manufacturers Tach?(C) and Samir Gems came to the March 2018 exhibition with the exquisite Lesotho Legend, a 910-carat, type IIa diamond they had bought together fro...Read More
(IDEX Online) - A British jewelry store will close this weekend after an astonishing 277 years in business, at the same address.Thurlow Champness, in Bury St Edmunds, Suffolk, (pictutred) was established by watchmaker George Lumley back in 1745. He also sold clocks, watches, diamond jewelry and gold pieces.Current owner Trevor Salt is retiring 40 years in the business and says there is nobody to h...Read More
(IDEX Online) - The Star-Orion South diamond mine, in Canada, will be put on care and maintenance at the end of this year, following disagreements between joint venture partners Rio Tinto Exploration Canada Inc. and Star Diamond Corp.Rio Tinto said in a statement that it was reviewing its options and warned it could pull out of the project completely. Star Diamond said it was disappointed.Both sid...Read More
"This was 4,000 ounces shy of our 30,300 ounces estimate," said analysts at Toronto-based Desjardins.Read More
U.S. equity index futures were higher this morning. S&P 500 futures down 55 points in pre-opening trade.U.S. equity index futures moved lower following release of the U.S. June Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 1.1% versus a gain of 1.0% in May. Actual was an increase of 1.3%. On a year-over-year basis, consensus was an increase of 8.8% versus a gain of 8.6% in...Read More
Talon Metals (TSX: TLO; US-OTC: TLOFF) has reported high-grade nickel and copper assay results from its Tamarack nickel project in Minnesota. The drill results come from CGO East, an area of 500 metres by 900 metres outside of the nickel project's defined resource area.Highlights from eight infill holes included 6.56 metres grading 2.95% nickel and 1.01% copper starting at a depth of 133.60 metr...Read More
Wallbridge Mining (TSX: WM; US-OTC: WLBMF) is selling its nickel assets to Archer Exploration (CSE: RCHR) in an all-share deal worth $53.6 million.The company said it wants to focus on its core gold projects Fenelon and Martiniere, and is selling its Grasset and RUM projects in Quebec and its Sudbury and NW projects in Ontario.Under the deal, Wallbridge will receive about 198.6 million common sh...Read More
Belgium-based Umicore, a circular materials technology firm, plans to invest $1.5 billion to build a manufacturing plant in Ontario for cathode active battery materials and their precursor ingredients. The company aims to start construction in 2023 and kick off operations at the end of 2025, with the goal of supplying battery components to about 1 million electric vehicles a year by 2030.?EUR? U...Read More
As economies around the world decarbonize, the increasing demand for electric vehicles and green energy storage technologies is driving a boom in the exploration and development of technology-metals deposits, among them lithium, cobalt, nickel, and rare earths. Here are eight mining companies supporting the global transition to a clean energy future. CANADA SILVER COBALT WORKSThe Castle mine wa...Read More
Osisko Metals (TSXV: OM; US-OTC: OMZNF) has released an updated preliminary economic assessment (PEA) for its wholly owned Pine Point base metals project located near the town of Hay River, NWT. The study was prepared in collaboration with independent engineering firms BBA, WSP Canada and Hydro-Resources.The objective of the PEA was to integrate updated long-term prices for zinc and lead, increase...Read More
Rock Tech Lithium (TSXV: RCK; US-OTC: RCKTF) has signed a framework agreement with an unnamed global car maker headquartered in Germany to supply lithium hydroxide over an initial five-year period.Rock Tech is building a lithium hydroxide converter in Germany (Guben, Brandenburg), and expects to start production there in 2024. The facility is forecast to have a production capacity of 24,000 tonnes...Read More
Dundee Precious Metals (TSX: DPM) has scored a win in Ecuador as a local court upheld the validity of the company's environmental permits for exploration at its Loma Larga gold underground project.The Judicial Labour Unit of the southern city of Cuenca also reaffirmed Dundee's mining concessions, by ruling that the mining ministry had not violated certain rights relating to the protection of wate...Read More
Cash-strapped Pure Gold Mining (TSXV: PGM; LSE: PUR) has kicked off a strategic review process that could involve a potential sale or merger of the company, a sale of all or part of its gold mine in Ontario, or other long-term financing options.The evaluation is being conducted with "the objective of maximizing shareholder value and the value of the Pure Gold mine in Ontario," the Canadian miner s...Read More
George Gammon, Released on 7/13/22Erik Townsend is a former successful software entrepreneur, hedge fund manager and host of the popular Macro Voices https://www.macrovoices.com/.George Edward Gammon is an American real estate investor and entrepreneur. He produces and stars in a popular YouTube Channel. Prior to 2012, George started, owned, and operated multiple businesses ranging from convention...Read More
Liberty and Finance, Released on 7/13/22 (Recorded on 7/11/22)The tide has shifted. After 40-years of relative stability, markets and the general financial system is entering a new era of volatility and conflict. "The period of 1982 to 2022 was probably the easiest period known to humankind," says legendary investor Rick Rule, "I would argue it's over." In this environment, "I am delighted to own...Read More
Zero Hedge, Released on 7/13/22Simmons said three suspects broke into the man's home where at least one pointed a handgun at the homeowner, and the other two shoved him to the ground. The victim tried to reach for his pistol when one of the suspects knocked it to the floor. Continue... Here's why you need a firearm with a high-capacity magazine in your home... added by Herman James on 07/14/2022Vi...Read More
The Felder Report (via Dollar Collapse), Released on 7/13/22While the decline in the broad stock market over the first half of this yearContinue... Jesse Felder: When bubbles go bust added by Herman James on 07/14/2022View all posts by Herman James ?+'Read More