Largest Collection Of Andrew Grima Jewels, Watches Fetches $1.1 Million At Bonhams London – Forbes

It was a “white glove” day for Andrew Grima jewels at Bonhams Fine Jewellery sale in London on Wednesday. A total of 55 jewels by the incredibly creative and popular Anglo-Italian jeweler sold out in what Bonhams billed as the largest private collection of his jewels to ever come to auction.

The charismatic jeweler was regarded as one of the 20th Century’s most daring and imaginative designers. In London, where he had a retail store, he was the go-to society jeweler for royals, celebrities, socialites and artists throughout the 1960s and ‘70s. His clients included Queen Elizabeth, Princess Margaret, Jackie Kennedy Onassis and Bond Girl Ursula Andress. Today, collectors of his work include fashion designers Marc Jacobs and Miuccia Prada.

Courtesy of Bonhams

A gold, citrine and diamond necklace by Andrew Grima

The 55 jewels and watches in the sale became the subject of competitive bidding on telephones, online and in the saleroom at Bonhams New Bond Street and every lot sold, achieving more than $1.1 million.

“We are delighted with the phenomenal success of the sale,” said Emily Barber, department director, Bonhams London. “Each piece is simply extraordinary and distinct in terms of its design, quality and originality and buyers are drawn to Grima’s work because of its bold, cutting-edge design and the fact that his pieces were often unique.”

Courtesy of Bonhams

Andrew Grima

Grima’s “About Time” watches for Omega were among the top performers of the sale. It included the following:

* An 18k gold and citrine watch, ‘Teak’ from the “About Time” collection, 1970, sold for $43,810, eight times its estimate.


About Time ‘Cerini’ watch by Andrew Grima

* A gold, citrine and diamond watch/bangle, “Cerini,” No. 80 from the “About Time” collection, 1969, sold for $30,335.

Courtesy of Bonhams

About Time tourmaline watch by Andrew Grima

* A gold, pink tourmaline watch bangle, “Greenland,” No. 15 from the “About Time” collection, 1970, sold for $47,181.

* A gold and green beryl ‘stepping stones’ watch bracelet, 1972, sold for £27,500.

Jewelry highlights in the sale include the following:

Courtesy of Bonhams

gold and diamond “pencil shavings” brooch by Andrew Grima

A gold and diamond “pencil shavings” brooch, sold for $23,591 against a high estimate of $8,090.

Courtesy of Andrew Grima

Gold and Amethyst earrings by Andrew Grima

A pair of gold and amethyst pendent earrings, 1971, part of the “Rock Revival” collection, sold for $40,441 against its high estimate of $10,780.

A diamond-set ‘Bark’ ring, 1980, sold for $21,067, 10 times its estimate.

Courtesy of Bonhams

Gold, diamond and amethyst ring by Andrew Grima

An 18k gold, amethyst, emerald and diamond ring, 1995, sold for $21,917 against its pre-sale estimate $8,100.

Courtesy of Bonhams

Gold and diamond necklace by Andrew Grima

A gold and diamond necklace, circa 1966, sold for $52,378 against a high estimate of $8,100.

Courtesy of Bonhams

Opal pendant by Andrew Grima

A gold, bolder opal and diamond pendant/necklace, 1972, sold for $80,928, double its high estimate.

An 18k gold, citrine and diamond necklace, 1974 (top photo), sold for $67,434 against its high estimate of $27,000.

The Season’s Most Stunning Red Jewelry – New York Times


CreditAnthony Cotsifas. Styled by Haidee Findlay-Levin

Clockwise from left: Cartier ring, $18,300, Suzanne Syz bracelet, price on request, Fabio Salini earrings, price on request,

CreditAnthony Cotsifas. Styled by Haidee Findlay-Levin

Clockwise from bottom left: Hanut Singh necklace, $4,400, James de Givenchy for Taffin ring, price on request, Belperron ring, $42,500, David Yurman bracelet, $850,

CreditAnthony Cotsifas. Styled by Haidee Findlay-Levin

Clockwise from bottom left: Verdura necklace, $139,000, Van Cleef & Arpels bracelet, $46,500, David Webb earrings, $37,000,

CreditAnthony Cotsifas. Styled by Haidee Findlay-Levin. Retouching: Anonymous Retouch. Photo assistants: Karl Leitz and Caleb Andriella. Stylist’s assistants: Megan Kiantos and Cassell Jones

Clockwise from top left: James de Givenchy for Taffin ring, price on request, Irene Neuwirth earrings, price on request, James de Givenchy for Taffin bracelet, price on request. Fabio Salini earrings, price on request,


Retouching: Anonymous Retouch. Photo assistants: Karl Leitz and Caleb Andriella. Stylist’s assistants: Megan Kiantos and Cassell Jones

Graff Buys 4-Carat Blue Diamond For $3.6 Million At Auction – Forbes

A Fancy Intense Blue diamond which has been held in a private collection for nearly 30 years sold for $3.6 million, smashing its $2 million high estimate, at Bonhams Fine Jewellery sale in London Wednesday.

The 4.03-carat pear-shaped diamond was the subject of a fierce bidding frenzy, according to Bonhams, before it went under the hammer, selling to Graff Diamonds for $853,203 price per carat.

Another colored diamond jewel also achieved a strong price. A mid-20th Century Fancy Colored diamond brooch sold for $980,000. The brooch comprised of a 4.83-carat square step-cut Fancy Gray-Blue diamond, two Fancy Dark Brown-Greenish Yellow step-cut diamonds, weighing 2.51 carats and 2.38 carats respectively, and a 1.90-carat pear-shaped Fancy Pink diamond.

Courtesy of Bonhams

4-carat fancy intense blue diamond sells for $3.6 million

The second highest value lot sold at Wednesday’s auction was a 9.61-carat Kashmir sapphire single-stone ring. The octagonal step-cut sapphire has no indications of heating and went under the hammer for $1.1 million, within estimates, equating to $112,600 price per carat.

Courtesy of Bonhams

9.61-carat Kashmir sapphire single-stone ring fetches $1.1 million

A 4.61-carat old marquise-cut diamond single-stone ring, D colour, VVS2 clarity, potentially flawless, sold for $160,000, against its high estimate of $134,647.

Courtesy of Bonhams

4.61-carat old marquise-cut diamond single-stone ring sold for $160,000

“Our top lots performed extremely well with global buyers vying for the prize lots,” said Jean Ghika, head of Jewellery, Bonhams UK & Europe. “The blue diamond and Kashmir sapphire both achieved strong hammer prices, demonstrating discerning collectors will always seek out the best examples when it comes to fine gemstones.”

The overall sale totaled more than $10.2 million, with 93 percent lots sold by value.

Courtesy of Bonhams

A mid-20th Century Fancy Colored diamond brooch sold for $980,000.

Bonhams auction included a number of signed pieces by Cartier. Among them:

Courtesy of Bonhams

An Art Deco sapphire and diamond necklace by Cartier

* An Art Deco sapphire and diamond necklace/bracelet combination, signed Cartier, circa 1925, sold for $226,000, well above its high estimate of $94,000.

Courtesy of Bonhams

Art Deco diamond clip brooches by Cartier, circa 1935

  • Art Deco diamond clip brooches by Cartier, circa 1935, fetched more than $101,000.
Courtesy of Bonhams

Emerald and diamond bracelet by Cartier

A bracelet by Cartier of alternating step and octagonal-cut emeralds, accented to either side by brilliant-cut diamonds, sold for more than $101,000.

Neighbor accused of stealing and pawning woman’s jewelry – Kenosha News

A 53-year-old Kenosha man was arrested after he allegedly used a key he was given for emergencies to enter a neighbor’s home and steal her jewelry, including a wedding ring that was melted down for the metal value before it could be recovered.

Philip L. Tabili Sr. was charged Wednesday with burglary and theft. He is being held on $20,000 bond.

According to the criminal complaint, Tabili’s neighbor, who is in her 70s, noticed in August that much of her jewelry was missing. She estimated the value of the jewelry at $5,000.

The woman spoke to her daughter, who told police she had approached Tabili, to whom they had given a spare key for emergencies, and asked him about the jewelry. According to the complaint, he admitted he had stolen the jewelry and pawned it.

The complaint states that another of the woman’s daughters went to the pawn shop and was able to recover much of the jewelry, but some of it had already been melted down, including the wedding band that belonged to the woman’s late husband.

According to the complaint, Tabili admitted to a detective that he had taken the jewelry and sold it for $600 “and used the money on a cocaine binge.” He gave the house key to police, who returned it to the woman.

The victim had initially declined to sign a complaint but later changed her mind. Tabili was arrested at his home on Tuesday.

More Stars Are Getting Paid to Wear Jewelry on the Red Carpet – Hollywood Reporter

The battle is heating up as several designers shift money in their marketing budgets to entice A-listers to wear their product: “If someone is spending $20 million a year on advertising, why not move over a half-million dollars? You can’t deny the exposure.”


Two days before New York City’s Met Gala in May, a jewelry publicist assumed that she was all set with product placements on several A-listers. Then her phone started ringing. “Agents told me that their clients were being offered payment to wear another house’s jewels, and they wanted to know if I could match it,” she recalls. “Until that moment, I didn’t even know I was in a bidding war.” With no budget, she lost most of the stars she’d already confirmed to other jewelers. And for one jewelry client, “we’ve shifted about 5 percent in the marketing budget for red carpet placements,” she says. “That will change again in 2018. We are adjusting to what the landscape has become.”

Under-the-radar contracts and one-time payments are becoming increasingly commonplace when it comes to stars wearing gems on the carpet. “It is the worst-kept secret,” says Michelle Graff of trade publication National Jeweler. (Several major jewelry houses declined comment.) Talk of six-figure checks is bandied about (Anne Hathaway reportedly received $750,000 from Tiffany & Co. for six jewelry looks worn while co-hosting the 2011 Oscars, and Gwyneth Paltrow allegedly was paid $500,000 by Louis Vuitton to wear the house’s jewels that same evening). Payment goes to actresses, their stylists and sometimes their agents. Reps have been known to demand more money from jewelry houses, competing over who has greater influence with stars.

Graff points out that any trepidation over discussing the fees and politics of jewelry placement on the red carpet may be due to fears that the Federal Trade Commission will come calling. “Remember that social-media influencers are dealing with this issue now,” she says, referring to an April FTC disclosure that the agency had sent “Endorsement Guide” letters to 90 of the most high-profile Instagram personalities, including, reportedly, Kim Kardashian.

Such fees come with strings: A jeweler might dictate a gown neckline to ideally frame a statement choker or pendant. Such necklaces are the best opportunities to get the most exposure from traditional and social media. Brands prefer black gowns, as they’re often the best choice of color to make a piece pop on the red carpet. Spelling on social media is even being scrutinized by jewelry houses: A jeweler’s spokesperson relayed how a star refused to fix an error in the brand name on her Instagram, arguing that correct spelling wasn’t part of her contract, and the house initially refused to pay (but eventually did).

Stylists also can be blindsided when a jeweler switches out a selected piece to highlight an item it wants to sell. During the Monday-morning quarterbacking of a red carpet, pundits increasingly should wonder whether a look that’s screaming for a necklace or earrings was truly the result of a conscious choice — or because the game changed at the last minute. (Though never assume. As one stylist, who asked not to be named, says: “I’m a jewelry minimalist.”)

Martin Katz was among the first jewelers to do red carpet placement: As a favor to John Goldwyn, then president of Paramount, Katz loaned diamonds to Sharon Stone for her 1992 Basic Instinct premiere. Recently, he has lost clients because his policy is to never pay. “It’s just not something I want or need to do,” says Katz, but he understands the tactic: “Listen, if someone is spending $20 million a year on advertising, why not move over a half-million dollars [to pay stars]? You can’t deny the exposure.”

Ultimately, how much does it really matter to the viewer or consumer if a star has been paid to wear one house’s jewels versus another’s? “I’m not sure people care whether someone was paid,” says Graff. The decision to buy isn’t affected “because they find out Lady Gaga was paid to wear it versus it being an organic choice.” And don’t look for transparency anytime soon, she adds: “For people in marketing, if they can maintain the illusion that something worn on a red carpet was an organic choice, they’re going to do that.”

A version of this story first appeared in the Sept. 20 issue of The Hollywood Reporter magazine. To receive the magazine, click here to subscribe.

Brexit leaves luxury London diamond maker fearing the future – The Independent

Tobias Kormind always had a keen eye for detail and loved art and architecture. Whilst hob-knobbing with the super rich in Cannes with his wife, the former banker-turned-online marketer says he fell in love with the idea of making hand-crafted diamonds.

Building on his experience of creating online stores for American beauty brand Estee Lauder, he blended both his passion and marketing career by co-founding an online-only diamond store in 2005.

He’s now spearheading 77Diamonds in the heart of Mayfair, employing British craftsmen and women who produce and sell more than 50 bespoke diamonds and pieces of jewellery a day in a workshop hidden away under London’s streets.

The company is named after the year 1477, when Archduke Maximilian I proposed to Mary of Burgundy with the first recorded diamond engagement ring. Turnover reached £18m in 2015.

But Brexit gloom is lingering on the horizon for Kormind’s diamond venture. Britain’s exit from the EU will drive profit margins down as the cost of manufacturing soars, he says. A hard-Brexit will almost certainly scupper the investment he’s made in using British-only craftsmen and apprentices to craft diamonds for the wealthy.

Kormind warns that Brexit, because of the associated fall in the pound, could make it more expensive to buy precious stones abroad with money generated in the UK. That, in turn, could force him to shift his central London workshops to the continent.

The Dane hopes for a “sensible” outcome to Brexit and says he would “hate to relocate”. But he does say that servicing an international community means he could “relocate with ease”.

With just a handful of employees and no traditional store, the founder and chief executive of 77Diamonds says he is expecting a turnover of £25m this year.

Unlike traditional jewellery stores in which customers can buy an already-made diamond rings or necklace, 77Diamonds’ customers place their order without seeing the finished product.

Customers request an ideal look, texture and weight for their bespoke purchase. Kormind says clients are free to be as detailed as possible when it ordering their bespoke diamond and jewellery requests – even choosing the diamond’s country of origin.

“If you choose a diamond sourced from Canada and want a maple leaf inscribed [on it], then sure, you can have it”, he says.

Making an order from 77Diamonds requires a lot of research into precise details and planning by the customers. “It’s a safe experience, with no pressured sales people, and you can do research all the while”, Kormind said. One buyer spent £120,000 on a ring without seeing it first.

All of the diamond cutting and jewellery production happens within the UK, either in London or Birmingham, using traditional techniques and tools in a workshop tightly packed and full of hammers, chisels and tongs.

Kormind takes pride in his all-British workshop. Staff range from grey-haired seniors to apprentices fresh out of college.

Clutching at a minuscule diamond, 64-year-old workshop leader Stephen Bernard recalls the time he was commissioned to make diamond earrings for the late Princess Diana. She had wanted them to match her necklace consisting of 178 diamonds and pearls, he says.

The necklace was worn on one of her final public engagements, watching a performance of Swan Lake, but the princess never got to see Stephen’s diamond earrings.

Just weeks later, in August 1997, she died.

Although he doesn’t want to reveal any specific names, Kormind says his venture is particularly attracting young and wealthy clients from across the world, all aspiring to buy into a “British brand”.

He says affluent customers in a globalised economy want hand-crafted jewellery more than ever before and love any products that are associated with a “London lifestyle”. But not everyone goes for the same type of diamonds.

“China has changed a lot – elite tastes have trickled through into the middle class”. Americans pay little attention to quality and want “diamonds as big as possible”, whilst Europeans make much more “quality-based decisions”.

Kormind likes to see himself as bucking a trend that’s seen other retailers produce cheaper, mass-marketed diamonds stamped with UK craftsmanship. He says that traditional techniques and expert craftsmanship are key to 77Diamonds and the industry as a whole if it is to survive – and that’s why diamonds work best as tailored, high-end products, he says.

Perhaps most strikingly, the 77Diamonds founder thinks that millennials are the type of consumers especially willing to pay more for hand-crafted diamonds made in UK workshops.

Diamonds are still associated with traditional engagement rings, at least partly thanks to De Beers’ campaign in the 1930s. And they can still hold their own as a prized gift, especially as young people are increasingly waiting longer to get married, when they’re likely to have more disposable income.

“Once we have food and shelter, jewellery and diamonds are the next couple of things that come on the must have list”, Kormind says. “There’s something mystical about diamonds, almost like putting on a good suit”.

Fake diamonds helped scientists find the hottest temperature ever recorded on Earth – Popular Science

About 36 million years ago, an asteroid slammed into Canada and created a fake diamond, which over the millennia degraded and transformed into a shiny black rock. Now, geologists have used that gem to confirm a new temperature record for the Earth’s surface: 2370 degrees Celsius.

This is not exactly the geologists’ standard test—but it is incredibly accurate. We know that this diamond substitute only forms above 2370 degrees Celsius, so we know that upon impact at least a small chunk of the surface reached that point. Just take a moment and consider how spectacularly toasty that is: 4298 degrees Fahrenheit. That’s half the temperature of the Sun. And we only know this because that brilliant burst of heat briefly created a fake diamond, otherwise known as cubic zirconia.

Cubic zirconia hardly ever occurs by chance, mostly because it doesn’t often get up to 4298 degrees Fahrenheit around these parts. And in its natural form, it’s terribly unstable. It decomposes easily into other, related crystalline forms. So it was only when geologists found zircon and analyzed its structure that they were able to determine that it used to be cubic zirconia, thus establishing the new heat record. They published their results in the journal Earth and Planetary Science Letters.

This is all quite exciting for geologists, because it gives them a better understanding of how our planet’s crust formed in its early years. There was a period where space debris bombarded the surface, and all those impacts must have changed the spots they hit. Collisions help reactions to happen, both by physically slamming things together and by creating heat with which to fuel them.

It’s also exciting for non-geologists because, well, cubic zirconia is just inherently interesting. Today we think of it as a cheap alternative to diamonds, but somehow in a kitschy way. It’s a way to look like you’re wearing diamonds without actually paying for them, and (because we’re all secretly judgmental) that’s given the stuff a bad reputation.

The truth is that most people, even some jewelers, can’t tell the difference with a naked eye. Cubic zirconia isn’t carbon-based, but non-microscopically it does look almost exactly like a diamond. And because nearly all of it is synthetic, it’s all perfect. Earth-forged diamonds have imperfections, and though we consider the best stones to be those with the fewest flaws, we also value them for proving a diamond is real. Take away the imperfections and the stone looks too good to be true.

But the cool—or rather extremely hot—thing about cubic zirconia is that it requires such an incredibly high temperature to make. So high, in fact, that nothing can hold it. Literally. Normally you would heat a crystal like this in a crucible of some kind, which is a vessel designed to hold things at high temperatures. Platinum crucibles can hold substances at around 1200 degrees Celsius, and those are the best we have. To make cubic zirconia, you have to force it to make its own crucible.

A Diamond Play with Development, Discovery Potential – Streetwise Reports (registration)

The November 1991 discovery of diamonds in the Northwest Territories by prospectors Chuck Fipke and Stu Blusson put Canada on the global diamond map. It also triggered one of the largest staking rushes in the world, as hundreds of companies hurried north to find treasure.

A few years later, many had retreated to warmer climes. One company that remained in the hunt was Gren Thomas’s Aber Resources, with a large land package staked by Thomas and partners at Lac de Gras near the Fipke find. In the spring of 1994, an Aber exploration crew led by Thomas’s geologist daughter, Eira Thomas, raced the spring melt to drill through the ice in search of kimberlitethe rock that sometimes hosts valuable diamonds.

It was a long shot. Since the Fipke-Blusson discovery, the great Canadian diamond hunt had virtually ground to a haltdespite the millions of dollars spent in search of the glittery stones. But the drill core from Aber’s final spring hole had a two-carat diamond embedded in it. The Diavik discovery meant it was game on for Aberand Canada’s nascent diamond industry.


A quarter century after that fateful hole was punched through melting ice, Canada punches above its weight in the world of diamonds. Measured by value, the country is the third largest producer of diamonds by value globally. And the valuable diamonds that continue to be unearthed at the Diavik mine discovered by Aber are a big reason why.

The discovery unleashed a wave of shareholder value. The shares of Aber and its successor companies went from pennies to more than $50 as the quality of the diamonds and the asset became known. Aber is now known as Dominion Diamond Corp. (DDC:TSX; DDC:NYSE) and is Canada’s premier diamond company. Dominion operates the Ekati mine and owns 40% of Diavik. The Diavik mine is expected to produce about 7.4 million carats this year, making it among the world’s largest diamond operations.

Eira Thomas remains involved in the Canadian diamond world.

The team behind the Diavik discovery has also created a fair amount of shareholder value in the years since, led by Eira Thomas. She has co-founded two diamond players, Stornoway Diamond Corp. (SWY:TSX) and Lucara Diamond Corp. (LUC:TSX.V), and remains a director of the latter Lundin Group company. Her most recent gig, as CEO of Yukon-focused Kaminak Gold, ended rather wellproducer Goldcorp Inc. (G:TSX; GG:NYSE) bought the company for $520 million last year.

Thomas is also an advisor to North Arrow Minerals Inc. (NAR:TSX.V), a cashed-up junior company at the forefront of Canadian diamond exploration. Aber’s Gren Thomas is North Arrow’s chairman and the CEO is Ken Armstrong, a former Aber and Rio Tinto geologist. North Arrow recently completed a mini-bulk sample and 11 drill holes at its advanced-stage Naujaat project in Nunavut, which hosts a population of valuable fancy orangey-yellow diamonds.

North Arrow Minerals has submitted 2,440 meters of kimberlite core for microdiamond analysis, as well as a 234 wet tonne mini-bulk sample. The mini-bulk sample should enable the company to get a better handle on overall diamond values and help define the population of more valuable colored diamonds.

The work program was funded by a $5-million financing of 25-cent units, with each unit consisting of one share and a full three-year warrant exercisable at 40 cents. Vancouver mining entrepreneur Ross Beaty and the Electrum Strategic Opportunities Fund, backed by billionaire Thomas Kaplan, each subscribed for $2 million.

A cut and polished fancy orangey-yellow diamond from North Arrow’s Naujaat deposit.

In a space with few new discoveries or development projects, Canada is home to two of the world’s new diamond mines. Stornoway’s Renard mine in Quebec and Gahcho Kue, a De Beers-Mountain Province joint venture in the Northwest Territories, have both recently begun commercial production.

Globally, the diamond industry has faced headwinds, including India’s demonetization and choppy rough stone prices. But diamonds remain a key money maker for some of the world’s largest mining companies, including Rio Tinto Plc (RIO:NYSE; RIO:ASX; RIO:LSE; RTPPF:OTCPK) (60% owner of Diavik) and Anglo American Platinum Ltd. (AMS:JSE), which owns 85% of De Beers.

In a Bloomberg interview late last year, incoming Rio boss Jean-Sebastien Jacques identified diamonds as a “priority area””I would love to have more diamonds, to be very explicit.” The company recently backed up those words by signing a three-year, $18.5-million option on Shore Gold’s Star-Orion South diamond project in northern Saskatchewan.

And Anglo’s De Beers division remains a reliable profit generator. In 2016, rough diamond sales surged for both Anglo American (up 36%) and Russian producer Alrosa (up 26%), according to The Diamond Loupe. The Washington Group’s successful takeover bid for Dominion Diamond Corp. reflects the demand for well-run diamond mines, which are powerful profit machines.


On the exploration front, the picture is less promising. Budgets dried up during the mining slump that began in 2011, and little grassroots exploration work is being done. It’s particularly problematic for supply because diamond mines take longer to discover, evaluate and build. The new Canadian mines will help fill the gap, but it won’t be enough. Economic diamond discoveries have simply not kept pace with mine depletion, globally.

“There is definitely a lack of new projects, at least new projects that are close to infrastructure,” said Paul Zimnisky, an independent New York-based diamond analyst. “There really is not much at all in the global diamond production pipeline.”

Economic, world-class diamond projects are few and far between, and most exploration companies looking for them have failed, Zimnisky explained. That has resulted in wariness and declining interest among investors: “In general, shareholders have not done well in diamonds.”

Argyle diamond mine, Australia

The looming supply deficit is particularly acute for rare colored diamonds, which fetch higher prices. Australia’s Ellendale mine produced an estimated 50% of the world’s fancy yellow diamonds in the years before it closed in 2015. The Argyle mine, also in Australia, is one of the world’s biggest mines and a source of valuable colored diamonds, including extremely rare pinks. It, too, is slated to close in the coming years, after decades of production.

North Arrow’s Naujaat could help fill the void. The project hosts a population of fancy orangey yellow diamonds that are more valuable because of their rarity. Naujaat is on tidewater, which dramatically reduces costs, and hosts a very large diamondiferous kimberlite, Q1-4, that outcrops on surface. The goal of the company’s program is to extend the Inferred resource to a depth of at least 300 meters below surface and better define the diamond population. The current resource at Naujaat is defined from surface to a depth of 205 meters. Three of the holes terminated in kimberlite, the deepest at a depth of 376 meters below surface.

“It’s the first drilling in more than 12 years,” observed North Arrow CEO Ken Armstrong. “The work will help us confirm and update the size of Q1-4 and improve our understanding of the deposit’s internal geology and diamond distribution.”

A new geological model of the largest kimberlite at Naujaat is expected next year, after further drilling in the spring, he said. The mini-bulk sample was shipped out on the annual sealift and is expected to arrive at the lab in Thunder Bay, Ontario, in early October.

In 2014 and 2015, North Arrow collected a small bulk sample at Naujaat (formerly known as Qilalugaq) with the goal of gauging diamond values. But the carat values on the small 384-carat package came in significantly below expectations. North Arrow shares were relegated to the market penalty box and the company has been largely under the radar since, despite important background work that set the stage for this year’s program.


Contrarian investing and the ability to time cycles can lead to fortunes in the junior mining sector. Vancouver investor Ross Beaty has proven it, time and again. In the early 2000s, with copper trading for under US$1 a pound, his team assembled a portfolio of unwanted copper assets in a bear market. He developed and sold those projects during bull markets, turning $170 million in invested capital into shareholder returns of $1.87 billion. His latest win was a large bear-market investment in Kaminak Gold, later bought out by Goldcorp.

North Arrow Minerals is Beaty’s latest contrarian bet, participating in the financing with other investors including Electrum and company management and directors. In addition to the Naujaat program, exploration is also planned at North Arrow’s Mel, Loki and Pikoo projects.

North Arrow also has exposure to drilling through the LDG (Lac de Gras) joint venture with Dominion Diamond Corp. That project borders on the mineral leases where Diavik is located. Ekati is 40 kilometers to the northwest. Dominion plans to drill several targets there as part of a $2.8-million exploration program. North Arrow will have a 30% interest in the JV. In May, Dominion announced a “renewed strategic focus on exploration” and a $50-million, five-year exploration budget. Dominion’s new CEO, Patrick Evans, formerly ran Mountain Province Diamonds and has an exploration background.


North Arrow’s renewed focus on Naujaat comes after a polishing exercise yielded fancy yellow diamonds that turned some heads in the industry. Several were certified “fancy vivid” diamonds, a coveted designation in the colored diamond world. The quality of the polished stones suggests the fancy orangey yellow diamonds at Naujaat are considerably more valuable than the June 2015 valuation of the roughs indicated.

The primary conclusion of the diamond evaluators was that the 384-carat parcel of Naujaat diamonds was too small to properly evaluate. North Arrow’s 234 wet tonne sample should help remedy that. Lab results are expected in early 2018.

Another complicating factor at Naujaat is the presence of two distinct diamond populations of different ages, including a population of rare fancy yellow diamonds. It’s a consideration that was not factored into the prior carat valuation. It will be next time. Diamonds are a rarity play, and diamonds that occur less frequentlysuch as colored diamonds and large diamondsare more valuable. Yellow diamonds made up only 9% of the 2015 Naujaat sample by stone count, but more than 21% by carat weight.

The drilling between 205 and 305 meters below surface confirmed or expanded previous interpretations of the overall kimberlite pipe geometry. The estimated surface area of the kimberlite at 305 meters below surface is at least 5 hectares, compared to 12 hectares at surface. The kimberlite body remains completely open at depth. This summer’s drilling should help North Arrow better evaluate the contours of the diamond deposit on the path to a future Preliminary Economic Assessment. The Q1-4 kimberlite has a horseshoe shape that makes it amenable to open-pit mining and a low strip ratio. A larger bulk sample is planned for 2018.


Fancy yellow diamonds were thrust into the spotlight recently when Dominion unveiled the striking 30.54-carat Arctic Sun, a fancy vivid yellow diamond cut from a 65.93-carat stone unearthed at Ekati. Dominion also played up colored diamonds in its latest corporate presentationspecifically, the sweetener effect of high-value fancy yellow and orange diamonds at Misery.


The potential emergence of Canadian colored diamonds could help solidify Canada’s position on the world diamond stage, according to analyst Zimnisky. On the branding and marketing side, Canadian diamonds continue to have strong appeal because of their high quality and ethical sourcing.

And the two recent Canadian mine openings are a bright spot for the global industry, despite early growing pains at both Gahcho Kue (lower-than-expected values) and Renard (breakage), he pointed out.

“There is absolutely an opportunity to sell Canadian diamonds at a premium, especially in North America,” Zimnisky said. The United States remains the world’s largest diamond market, despite the growth in demand from China and India.

Important hurdles remain before any mine is built at Naujaat, but the strength of North Arrow’s management team bodes well for success, according to Zimnisky.

“North Arrow is looking for something world-class and it’s high-risk, high-reward,” said Zimnisky, who has seen the company’s cut and polished fancy yellow diamonds: “They’re beautiful.”

The appetite for fancy yellow and other colored diamonds remains strong, despite the closure or pending closure of two of the mines that produce many of them. Last year a De Beers store opened on Madison Avenue in New York, Zimnisky said, and the feature diamond on opening day was a diamond necklace with a very large fancy yellow stone of more than 100 carats.


Further north of Naujaat on Nunavut’s Melville Peninsula is another North Arrow project with a good shot at a kimberlite discovery. At the Mel property, 210 kilometers north of Naujaat, North Arrow geologists have narrowed down and defined three kimberlite indicator mineral (KIM) trains through systematic soil sampling over several seasons. Last year’s till sampling defined where the KIM train is cut off, suggesting the bedrock kimberlite source is nearby.

The discovery of a new kimberlite field this season is possible, since kimberlites in the region outcrop at surface. “It’s a first look, but there’s potential for discovery without drilling,” says CEO Ken Armstrong.

As for the Lac de Gras joint venture, the US$1.1-billion hostile takeover bid for Dominion unveiled by the private Washington Corp. earlier this year may work in North Arrow’s favor. In addition to spurring a stock surge, the bid forced the diamond miner to crystallize its focus on creating shareholder value. And a key strategy for Dominion, with its two aging mines, is a renewed exploration push.

Finding new diamondiferous kimberlites in proximity to its existing operations would be a big boost for Dominion. One of its best shots is through the joint venture with North Arrow, which covers 147,200 hectares south of Ekati and Diavik. Dominion is spending $2.8 million on the project this season, including a planned drill program. North Arrow is well-positioned to capture the value of any Dominion kimberlite discoveries made.

North Arrow plans to conduct till sampling in the fall at Pikoo, its Saskatchewan diamond discovery, in advance of a potential early 2018 drill program.

James Kwantes is the editor of Resource Opportunities, a subscriber supported junior mining investment publication. Kwantes has two decades of journalism experience and was the mining reporter at Vancouver Sun, the city’s paper of record.

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Zari focusing on putting ‘negative energy’ behind her – Daily Nation


Dar es Salaam. One day after Diamond admitted that he had cheated and fathered a child with video vixen Hamisa Mobeto, his fiancée and mother of his two children Zari Hassan is focusing on the positive.

In an early morning post on her instagram page on Wednesday, the socialite and business woman based in South Africa appreciated the concern that her thousands of followers had expressed over the incident.

“Ladies and gentlemen I have heard you loud and clear, the advices, the consolation, the pity, the hurt you are feeling on my behalf most of all the betrayal. But let’s look at this on the positive side,” she wrote.

This left her fans wondering whether she had already chosen to forgive and forget and above all move on.

“When a person chooses to cheat on you it’s not you actually it’s them who usually turn out to have played themselves while they thought they are playing you,” she added.

She instead advised that no one should look down on themselves when such things happen it was never of her making.

“You should never look down on yourself, don’t ever think you are worthless because of another person’s mistake and never blame yourself,” she said.

With her birthday approaching she is looking forward to picking herself and get into a celebratory mood.

“Always look at how to pick yourself up and get going. That said, with my birthday approaching let’s put all this negative energy behind us and appreciate life!”

Why more women are buying their own diamonds – South China Morning Post

Forevermark’s revelation that its coming marketing campaign will target women who buy jewellery for themselves is no coincidence. The strategy is an indication that the diamond market has finally realised the influence women have on consumer spending.

Global diamond sales rose to US$80 billion last year, reversing the slump caused by weaker demand from markets such as China and India, according to industry experts.

While these sales were bolstered by demand from the United States, the world’s biggest diamond market accounting for 50 per cent of all polished stones, financially independent women are proving a game-changer.

More women than ever are working in professional capacities and have a disposable income, and they are spending their hard-earned cash on tangible assets for themselves.

According to Gen Analytics, women control US$20 trillion in consumer spending, or 27 per cent of the world’s wealth amounting to a purchasing power that exceeds the combined gross domestic products (GDP) of India and China.

Traditionally gifted by men to their partners, women today are just as likely to buy their own jewels, for fun, as an investment or as a satisfying way to spend a bonus or celebrate a personal event, whether that is a promotion or surviving a serious illness, or even a divorce.

The rise of these so-called self-purchasing women is not new, but increasingly significant. A study by Mintel in 2015 showed that more than half the women surveyed, predominantly professionals over the age of 45 and dubbed the “just becausers”, bought jewellery as a treat, while De Beers’ Insights report last year suggested that self-purchasing by women has increased almost 50 per cent over the past decade with diamond-only, design-driven and responsibly sourced pieces overwhelmingly favoured.

The buying approach of these women takes a meticulous route, led by the attraction of a gemstone followed by design and finally, the cost.

Are diamonds an investor’s best friend?

Women today are so firmly in control of their jewellery collections that their involvement is not necessarily restricted to self-purchase transactions.

“Women are very conscious when buying jewellery and are involved in the buying process, even when it is a present [from] their partners,” says Raphael Gübelin, CEO of Swiss jeweller and diamond brand, Gübelin.

“They know exactly what they are looking for and this is clearly a trend that we recognise.”

Traditionally, an auction room was a male-dominated domain, but women are increasingly making their own bids for one-off pieces to add to their collections.

Diamonds at auction offer investors colourful temptations

According to Bonhams Hong Kong, more than 40 per cent of jewellery buyers are women and that trend is global, with women accounting for between a third and a half of buyers in the United States and Britain, respectively.

The auction house, Poly Auction Hong Kong, is also seeing a surge in female buyers. Yu Wenhao, head of jewels and prestige collections, says that more women are buying diamonds and jewellery for themselves to wear as well as for investment purposes.

Why Hong Kong is now the world’s second-largest jewellery auction hub

Marquise-shaped diamond rings and vintage 18th and 19th century pieces are increasingly popular among women, who want to buy pieces that suit their individual personality or style – rather than the loose diamonds or simple, mounted stones historically bought by men. This pattern is likely to continue, too. “Many [of the buyers] are professional women or women entrepreneurs and are influential trendsetters in fashion,” Yu says.

“We find this trend encouraging. They are successful women and they should enjoy the money they have made themselves.”