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Kennady’s Kelvin Valuation Compares With World’s Highest-Margin Diamonds

Oct 20, 2015 4:06 AM   By Rapaport News
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RAPAPORT... A Kennady Diamonds Inc. mine in Canada’s Northwest Territories is said to have diamonds valued at $123 per carat on average, which compares with the world’s highest-margin, new-diamond repository.

The price assessment -- done by WWW International Diamond Consultants in Antwerp -- was based on gems weighing 989 carats and recovered from a bulk sampling of the Kelvin kimberlite, Kennady said in a statement October 19.

While only 88 diamonds weighed more than 0.66 carats per stone in the parcel, “it is encouraging to see so many good color white gem stones, especially in the C sample, with five of the eight stones being good color and gem quality,” the statement said.

Source: Kennady Diamonds

“Kelvin diamond prices are comparable to those from the neighboring Gahcho Kué mine when the rough diamond price index was at a comparable level,” Patrick Evans, president and chief executive officer of Kennady Diamonds, said. “This is very encouraging, particularly as Gahcho Kué is widely recognized as the world’s highest-margin, new-diamond mine.”

Three highest-value diamonds in the sample included a 4.22 carat stone from Zone B with a value of $1,603 per carat; 2.58 carat gem from Zone C worth $1,366 per carat and 2.38 carat from Zone C whose price was assessed at $1,196 per carat.

The results confirm “Kelvin hosts a population of high-value, gem-quality white diamonds,” Evans said. “These good results were achieved despite the valuation being done at a challenging time with the rough diamond price index at multi-year lows.”

Tags: Canada, Kelvin project, Kennady Diamonds, Patrick Evans, Rapaport News, WWW International Diamond Consultants
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