Southstone Minerals Ltd FDGMF

thinking outside the box

[jngolfer]

It seems to me the carat price is unusually high, which is great!  I would think it would raise someones attentiion that Southstone should be an easy acquisition at this point!  Quality diamonds like what we have been producing would surely be in high demand in the upper end jewelry trade! Just saying!!  I'm certainly not an expert in the diamond business, however, this level quality is not being found in great numbers around the world!

[JSMichau]

That's the average price that Oena has been consistently producing, with some diamonds in the 5000$ to 10 000$ per carat... I think the average for other diamond mine is around 120$/carat... So yes the quality is amazing. If you include the closing of the biggest diamond mine in 2020, I think it leaves a good future for high quality diamonds found at Oena. If they could find a 100+ carats

[Pacmann]

I agree j's. They have solid quality mine here but you're right they do need to find a large diamond like lucara did. I believe the biggest one they found in Oena was 33 carats so far. Correct me if I'm wrong.

[hempster]

The largest one so far was 49 carats sold at $2.5k (found this summer): https://stockhouse.com/news/press-releases/2019/09/27/tango-q4-operational-update But the most valuable one was 42 carats selling for $11k per carat (found last year): https://southstoneminerals.com/diamonds-oena/  

[JSMichau]

Other company did found a diamond around 79carats and SML found a few above 40 carats after the 36 one they found. They consistently find 10-20 carats

[Pacmann]

they need to find diamonds above 100 carats and hopefully some rarer colour diamonds. if they ramp up production even further then who knows. but the total production is very promising

[hempster]

In the Q4 update from September is the information that ASM has now finally started to process the tailings, once the equipment is running at full capacity chances are good we'll see soon another increase in production.