CHARTS: Maybe India can ignite new commodity supercycle

Peregrine Diamonds Ltd. announced that the Chidliak Joint Venture (Peregrine 49% and BHP Billiton 51%) has approved a $17.7 million 2011 exploration program on the 8,580 square kilometre Chidliak project on Baffin Island, Nunavut, Canada. Since 2008, 50 kimberlites have been discovered on the project, with seven of these having characteristics consistent with economic potential in Arctic settings. Peregrine is the operator of the 2011 program and field work has commenced. Image by Peregrine Diamonds

Lucara Diamond Corp. ("Lucara" or the "Company") (TSX VENTURE:LUC) is very pleased to report outstanding results from its first tender of rough diamonds recovered from the Mothae mine in Lesotho. A total of 42 sales lots, totaling 9,381.35 carats were sold on tender in Antwerp for an average of US$871.70/ carat. Gross proceeds from the sale, which closed today, March 28, 2011, totaled $8,177,714 million. The three stones with the highest per carat value were a 13.87 carat diamond which sold for $43,000/ct, a 24.57 carat diamond which sold for $32,351/ct, and a 20.13 carat diamond which sold for $27,995/ct.

Kinross Gold Corporation (TSX:K)(NYSE:KGC) announced today that it has sold its approximate 8.5% equity interest in Harry Winston Diamond Corporation ("Harry Winston"), consisting of approximately 7.1 million Harry Winston common shares, on an underwritten block trade basis, for gross proceeds of CDN$100 million. On August 25, 2010, Kinross announced that it had completed the sale of its former 22.5% interest in the partnership holding Harry Winston's 40% interest in the Diavik Diamond Mines joint venture to Harry Winston for US$50 million cash, 7.1 million Harry Winston common shares, and a note payable in the amount of US$70 million maturing 12 months from the date of the sale.

Indicator Minerals Inc. (TSX VENTURE:IME) today announced that it has entered into an option agreement with Diamonds North Resources (TSX VENTURE:DDN) on […]

Mt. Burgess has identified a large zinc soil geochemical anomaly on its Kihabe-Nzuu base metals prospect in Botswana. Mt Burgess Mining NL (ASX: MTB), which has been actively exploring Botswana and Namibia for more than a decade -- initially for diamonds

Gem Diamonds says it is in very early stage talks with Canadian-listed Lucara Diamond Corp over a possible merger. "These discussions are at a very early stage and there can be no certainty the contemplated merger will occur or of the timing or terms of any such transaction," Gem Diamonds said in a statement on Monday.

With Japan the third biggest buyer of global jewellery, Tuesday was a tough day for London-listed Gem Diamonds to announce results.

Metalex Ventures (TSX:MTX) recovered a 0.72 carat white diamond from its James Bay lowlands project in Quebec — a joint venture between Metalex and Arctic Star Diamond Corp. (TSX:ADD). The B.C.-based company made the announcement on Friday among its latest drill results from the 9.3-hectare U2 kimberlite pipe. The discovery was made on the third of 11 drill holes, and Metalex indicated another 0.72-carat stone has been recovered from the fourth hole.

Stornoway Diamond Corporation and Hunter Exploration Group have provided new microdiamond results from the AV9 kimberlite and the related Eastern Sheet Complex […]