From today’s Star Diamond Project news release;
A total of 3,355 commercial sized diamonds (greater than 1.18 millimetre square mesh screen), collectively weighing 338 carats, has been recovered from the treatment of 4,913 dry tonnes of kimberlite. Thirty-three diamonds greater than one carat have been recovered and the three largest stones are: 3.50, 3.31 and 3.19 carats, respectively. In addition, 352 diamonds (6 carats) were recovered down to 0.85 millimetre square mesh. The colour of over 80 percent of these diamonds has been classified as white, with a further 12 percent classified as off-white.
Like I said a couple of months ago, anticipate diamond prices to drop to $3 a bushel.
I can’t see DeBeers letting that happen.
Nice. But that’s rough: uncut stones. Usually at least half is cut away to make the finished diamond.
And 3355/338 averages about 10pts each. Still, that is a great density per ton of fill. Go Star Diamond!
Sean, look into grown diamonds. They’re about to slaughter the mined market. They can make DF grade stones over a carat for a few bucks. $3/bushel inside 20 years. That would make diamonds what they’ve been all along: pretty rocks, otherwise worthless.
And consider that they’re being found in Saskatchewan. More uranium than anywhere else in the world. Richest deposits of potash. Lots and lots and lots of oil. coal. gold… grainfields as far as the eye can see…
yet, we “can’t afford” to fix roads, the population continues to exodus looking for good paying jobs and tax freedom is still three days away…
Somehow, Saskatchewan governments find a way to render natural resources virtually worthless.
Kate,
They are only resources if one uses them for that purpose. Otherwise, oil is just a dirty, messy liquid, diamonds are just hard and shiny rocks, uranium is, well, worthless. And as I’m sure you’d agree, it’s people who are the real resource.
You sound like someone who is familiar with the work of Julian Simon, if not look Here
In the meantime…
Drew, I’ve been following the grown diamonds as well. I’m excited by the implications they have for the semi-conductor industry. We need to move away from silicone and something more heat tolerant if we’re going to keep shrinking the chips.