GIB 0.00% 4.2¢ gibb river diamonds limited

Ellendale Diamond Mine, page-51

  1. 992 Posts.
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    The E9 ramp was closed due to slippage of a pit wall during wet season. Might have been some limited access after that before lights out.
    ASIC did take them to court but didn't get far as unable to prove some issues.
    Liquidation still ongoing for both KDC and KDL, Fed Govt backing KDC liquidation so just a war of attrition.
    Diamond prices did tumble, not as badly as 2008 and 2011, prices still low compared to 2014 though signs of improving. Goods sold to Tiffany not impacted to the same extent as other goods, especially small diamonds. Does make you wonder why they would then try to open a mine in Botswana that had 3 previous companies try and fail (including DeBeers), with mainly small diamonds avg price $40/ct in that market. Failed dismally!

 
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