Ready for a new side rabbit warren? It seems that Southstar Diamonds was a real company and there is considerable overlap between the Chairman and Managing Director of IGO at around 2007 - check out this 2007 IGO annual report:
At the time IGO was quite the wheeler and dealer of a company holding shares/interest in Matrix Metals, Atlas Iron, Southstar Diamonds Limited (who themselves were owned by Perilya and IGO) among others. Check out their "Other Investments" in 2007:
I haven't found it yet but I suspect that Southstar Diamonds Limited might have been private and held the WMC Southstar Diamond database and the DeBeers database and then split this database up into diamondiferous data - ie the minerology and some other stuff and the non-diamond geochemical data that would have included the ppb Au assays that somehow ended up with IGO and may have formed the basis for early exploration work by Anglo Gold in the Tropicana East JV area. Given the overlap between Southstar Diamonds Limited management and IGO management and the 50% ownership of Southstar the next obvious question is to find out exactly the fate of Southstar Diamonds Limited and how all its assets and IP was disposed of. As every reference of Southstar Diamonds I jave been able to find is always talking about diamond indicator minerals I suspect that it was a genuine diamond exploration company and had no interest in exploring for gold or base metals, although it may have been the beneficial owner of a royalty instead or or in addition to WMC ?
Lawyers picnic if this ever goes to court......
IGO Price at posting:
$7.29 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)