re: gets congo diamonds/stolwyk please Keep away from the window. It looks good to me but you may need to send off some more money.
This from "The Age"
Pull of Gravity boosts share price
By Barry FitzGerald
Resources Editor
August 12, 2004
Gravity Capital's share price continued to firm yesterday in response to speculation that it was about to strike a strategic alliance with BHP Billiton on an African diamond exploration project.
The deal would involve BHP Billiton and Antwerp diamond dealers pumping more than $10 million into Gravity, which would become the vehicle for the listing of Diamond Mines of Australia, owned 60 per cent by Gravity, 6.1 per cent by BHP Billiton and 53.9 per cent by European investors.
Gravity's name would change to Gravity Diamonds and its non-diamond interests would be repackaged into a new company that would be the subject of a distribution of new scrip to Gravity shareholders.
Rumours of the plan surfaced at the recent Diggers & Dealers forum in Kalgoorlie, which was attended by a big contingent of South African delegates from diamond, gold and platinum industries.
Melbourne-based Gravity's share price has increased from 35 ¢ to 42 ¢ in the days since, a 20 per cent gain. The BHP Billiton diamond exploration interests believed to be involved in the deal are in the Democratic Republic of the Congo (formerly Zaire) in central Africa.
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BHP Billiton said yesterday it did not comment on rumours or speculation.
Gravity has the Australian rights to BHP Billiton's remote sensing exploration tool, the airborne "Falcon" technology.
Considered by some in BHP Billiton to be the Holy Grail of exploration tools, it has proved particularly effective in diamond exploration.
Gravity has previously used it as a ticket to gain entry to some of Australia's best diamond exploration ground.
The company gave a teaser in its June-quarter report. It said the board had "resolved to investigate methods to ensure that further success in its diamond exploration would be reflected in the value of the company".
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gravity diamonds limited
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