Sign in | Join us  
      
 Popular Searches:diamond,cbn,tuck point blade,cup wheel,saw blade, brown fused alumina
Home -- Information


  Featured Companies
 • Zhengzhou IW Diamond…
 • Herbin Dong Qing…
 • More Super Hard…
 • Henan Famous Diamond…
 • Marble 4 Life Ltd…
 • Alivar trading Company…
 • QINGDAO UNITED ASIA…
 • Fujian Duoleng Steel…
 • http://www.moresuperhard.com…
 • ZGTEK CO.,Ltd

 Print  Add to Favorite
Custom your font size:     

Rockwell's Valuation, Steinmetz Investment Boost Shares


Post Date: 22 Jul 2011    Viewed: 308

Rockwell Diamonds confirmed that the Steinmetz Diamond Group, through its subsidiary Daboll Consultants, subscribed to $5 million in the current private placement at 75-cents per share, or 5-cents per share prior to a 15:1 consolidation. The placement closes on July 22. The subscription, along with news of a strong company valuation, drove Rockwell's shares up 5 percent to 60-cents in late morning on the Toronto Stock Exchange.


Ori Temkin, the chief executive of Steinmetz Diamond Group, explained that their strategic partnership with Rockwell continues to flourish. ''We have committed significant capital to the current capital-raising initiatives which clearly demonstrates that we have complete confidence in their investment plans to improve the production profile."


Rockwell's chief executive, James Campbell, stated that the significant capital from Daboll, together with the funds being raised from institutional and private investors, will enable the junior diamond miner to continue with investment plans.


Rockwell's diamond properties include Wouterspan, Tirisano, Klipdam, Holpan, Niewejaarskraal and Saxendrift. According to a valuation by Evans & Evans Inc., and dated February 28, 2011, the range of fair market value for Rockwell Diamonds was determined to be between $62 million and $69.1 million. Rockwell's properties, in aggregate, were valued in a range of $149.5 million and $165 million.


"We have a sound understanding of our resources and have published a technical report for each of our properties," said Campbell. "Having completed a strategic review of the business at the beginning of this year, we have a full understanding of what we need to do to improve our financial performance. We are totally committed to sustainably improving our diamond recovery and thus accreting revenue and profitability in order to close the value gap."


Superhard Material of China

Superhard Material of China

Abrasives and Grinding Products of China

Abrasives and Grinding Products of China

Coated Abrasives of China

Coated Abrasives of China

Chia International Abrasives & Grinding Exposition

China International Abrasives & Grinding Exposition

Home | About Us | Members | Contact | Advertising Quotation
Supported by Yuanfa Information Technology co.,Ltd
Copyright ©Abrasivesunion 2006. All rights reserved
Page rendered in 0.0924 seconds
备案序号:豫ICP备09017098号