The company Gem International Resources, which entered into a partnership with Global Gems company Diamond Project Dala (Dala) in Lunda diamond-rich Angolan province, completed the second tranche of the placement of its securities without the involvement of brokers and received 400,000 Canadian dollars from the sale of 8,000,000 shares the price of 5 cents per share.
Currently, the company completed a private placement of securities without the involvement of brokers by issuing a total of 24,120,000 shares for a total amount of 1.2 million Canadian dollars.
Proceeds of the offering will be used for exploration of diamonds in diamond project in Angola Dala. The project is located 25 kilometers south of the diamond mine Catoca (Catoca), the fourth largest in the world.
The project has the potential for immediate development of alluvial deposits and carrying out systematic research to the discovery of diamondiferous kimberlites.
Carried by operation include application 102 grids magnetic survey identified anomalies and air 29 required for exploration purposes.
A total of 11 drilling purposes and identified four kimberlite pipe was checked.
Work on the project stopped in 2009 due to the global economic crisis before the assessment was made of the diamond potential kimberlite pipes.
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Global demand for gold reached 1290 tonnes in the first quarter of 2016, an increase of 21% compared to the same period last year. Thus, the quarterly demand for gold reached a record value of the second. Growth was driven by strong inflows into gold ETFs (Exchange Traded Funds, ETFs), as well as the concern of investors about the prospects for the world economy, according to a recent report by the World Gold (World Gold Council, WGC) Council.
Total investment demand for gold in the reporting quarter jumped immediately to 122% compared to the same period last year, to 618 tons compared to 278 tons. During the first quarter of this year, gold prices rose 17% in dollar terms. The inflow into gold exchange-traded funds reached the highest quarterly value since the first quarter of 2009, an increase to 364 tonnes against 26 tonnes in the first quarter of 2015.
Demand for gold as a safe-haven asset increased due to the entry of negative interest rates by central banks of Japan and some European countries. In addition, investors feared slowdown in the Chinese economy, the slower increase in US interest rates, as well as the volatility of stock markets.
There was a slight increase (compared to the same period last year), the total demand for gold bars and coins, which amounted to 254 tons.
Global demand for jewelery fell by 19% due to higher prices and because of the strike in India, as well as due to the slowdown of the Chinese economy. In China and India for gold in the reporting quarter, demand has fallen.
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