Diamond Rose Rises

Diamond Rose's shares rose as it reported a unique find.

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Shares in Diamond Rose

Shares in Diamond Rose NL shot up in early trade as the diamond and gemstone miner resumed trading after completing its Chilean gold mine acquisition.

At 10.45am (AEDT), the shares were up 4.3 cents, or 69 per cent, to 10.5 cents.

The shares were trading at 6.2 cents when Diamond Rose announced a trading halt on December 30.
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Diamond Rose and Pnina Feldman

Diamond Rose Surges On Chile Buy

Dow Jones News 09/01/03

Diamond Rose (DRN) reinstated then jumps 4.8 cents or 77% to A$0.11. DRN announced yesterday acquisition of Guanaco gold project in Chile. Company plans to have project operational within 12 months to produce 50,000 – 100,000 ounces of gold a year at a cash cost below US$200/oz, a tidy margin over today’s spot price of US$353/oz.

Diamond Rose shines

AAP 09/01/03

Shares in Diamond Rose NL shot up in early trade as the diamond and gemstone miner resumed trading after completing its Chilean gold mine acquisition.

At 10.45am (AEDT), the shares were up 4.3 cents, or 69 per cent, to 10.5 cents.

The shares were trading at 6.2 cents when Diamond Rose announced a trading halt on December 30.

The company yesterday said it had completed the acquisition of Kinross Gold Corporation’s Guanaco gold operations in Chile.

Diamond Rose managing director Pnina Feldman said the acquisition would fast track the company’s intention of becoming a significant producer of precious metals.

“The purchase includes all of Kinross’s Guanaco assets including their gold mine and surrounding areas, associated plant, equipment and infrastructure,” she said.

Diamond Rose also has exploration and mining rights over the 150 square kilometer Guanaco property.

Australian stocks end soft on Wall St gloom

Reuters News Service 09/01/03 By Marion Rae

Base metal and gemstone explorer Diamond Rose (DRN) surged 58.1 per cent after buying Guanaco gold mine in Chile from Canada’s Kinross Gold.

Shareholders support Striker's ... Pnina Feldman Diamond Rose

Australia’s Paydirt Magazine March 1999

Diamond explorer Striker Resources NL has given the Australian quest for another diamond mine a renewed dimension by getting shareholder approval for a $6 million placement.

The company, facing potential extinction a few months ago with low cash reserves, has sorted out earlier differences with Diamond Rose NL, and was expected to relist later this month.

The capital raising has some luminaries, as big blocks were taken up through Sydney business man and former FAI Insurance Ltd chief Rodney Adler and international market maker George Soros.

Diamond Rose has subscribed to $4.07 million, taking up 50.826 million shares and a similar number of options that will take its holding to 40.3% while FAI took up 12.5% stake.

Striker’s managing director Clayton Dodd told a shareholders meeting this month that Diamond Rose was well advanced on raising the additional capital.

Dodd said Striker can now accelerate exploration work on its North Kimberley prospects where a big focus will be placed on the Ashmore and Seppelt diamondiferous pipes.

Diamond Rose’s chairwoman, Pnina Feldman, said the outcome was a win for all sides.

Striker’s new chairman is Tim Mainprize.

If all placement options and the option facility were exercised by September 30,2002, a further $24.65 million would be generated for Striker.

Feldman plans rich gold listing

West Australian Newspapers June 2006

Pnina Feldman, estranged sister of Melbourne mining magnate Joseph Gutnick, will join forces with the Malaysian former backers of defunct miners Ashton Mining and Plutonic Resources in a $20 million backdoor listing of rich gold holding near Norseman.

Australian Gold Investments (AGI), a private investment consortium controlled by Mrs Feldman and her son Sholom, acquired a big tenement package near Norseman containing over 1.3 million ounces of resources from Canada’s Kinross Gold in August 2005.

Touted as the biggest tenement holding around Norseman after that of Croesus Mining, the package was to form the centrepiece of a $20 million float by AGI.

In May, Malaysian-controlled Hudson Resources revealed it had begun exclusive talks to buy AGI for $19.66 million in a deal to transform the listed kitty litter producer into a substantial WA gold explorer.

Part of the listed Hudson Investment Group, Hudson Resources now produces attapulgite – a mineral used in industrial filters and kitty litter – in Western Australia’s Mid-West. Its register also boasts several high-profile Malaysian investors, including former Malaysian Mining Corp (MMC) chief Tan Sri Ibrahim Menudin. MMC, the biggest shareholder of both Ashton and Plutonic, of which Mr Menudin was also a director, triggered the takeover of both companies by putting its major stake up for grabs in 2000 and 1997 respectively.

The deal is subject to detailed due diligence and shareholder approvals, and requires a capital raising to satisfy the $5 million cash portion of the acquisition, as well as fund a bankable feasibility study into developing AGI’s Norseman assets.

David Evans, a key investor in AGI, said pooling the capabilities of Mrs Feldman and Hudson offered several potential advantages over a public float.

“Pnina Frldman has access to finance, as do the directors of Hudson, so it looks like it might go that way rather than an IPO,” he said.

Mrs Feldman would play “a big role” in the companies future, though she planned to recruit as experienced mining team to manage the Norseman project, Me Evans said.

“It’s a pretty serious project….and the aim is to bring it into production as soon as possible,” he said.

Meanwhile, Hudson will sell its attapulgite business to its parent company for $3.2 million.

Feldman teams up with explorer

West Australian Newspapers 2007 By John Phaceas

Pnina Feldman, the estranged sister of Melbourne mining magnate Joseph Gutnick, will join forces with Pert explorer Kalgoorlie-Boulder Resources in a $10 million-plus backdoor listing of rich gold holdings near Norseman.

Australian Gold Investments, a private investment consortium controlled by Mrs Feldman and her son Sholom, acquired a big tenement package near Norseman containing over 1.3 million ounces of resources from Canada’s Kinross Gold in August last year. The deal will see Kalgoorlie-Boulder acquire AGI for $2.65 million in cash, 50 million ordinary shares and $3 million in convertible notes paying an 8 per cent coupon rate, which convert to 30 million shares in three years.

The deal represents Ms Feldman’s third attempt to take the Kinross package public, after initial plans for a $20 million float stalled and a subsequent deal to back the tenements into Hudson Resources fell through in June.

The package comprises 124sqkm of ground that stretches for 25km south of Norseman, including granted mining leases, exploration and prospecting licences and applications.

Kalgoorlie-Boulder director David Prentice said the acquisition marked a “defining point” for the company given its prime location in a rich gold province.

“Projects with this potential are very rare anywhere in the world, so to be in a position to acquire one in the Goldfields of WA is extremely rare,” he said.

Kalgoorlie-Boulder shares fell 1c to 14.5c yesterday.