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With the end of 2021, it’s time to take a look back at the best gemstone and diamond stocks of the year.
While the diamond market has faced challenges over the past decade, including falling prices and oversupply downstream, analysts believe that 2021 was a record year for industry.
Against this backdrop, a number of gemstone and diamond stocks have seen impressive increases in their share prices in 2021. To help investors navigate the market, Investing News Network has compiled a list of the four focused companies. on gemstones and diamonds which have recorded the largest share of price gains since the start of the year.
The list below was generated on December 13, 2021, using TradingView stock sieve, and all of the listed companies had market capitalizations over C $ 10 million at that time.
1. Diamcor mining
Gain since the start of the year: 340%; current share price: CA $ 0.33
Diamcor Mining (TSXV: DMI) has entered into a strategic alliance with Tiffany & Co. and is now in the final stages of development of its South Africa-based Krone-Endora at Venetia diamond project, which it acquired from De Beers in 2011.
Mid-2021, Diamcor relaunched the two-phase expansion treatment facilities at Krone-Endora in Veneto after last year’s delays linked to COVID-19. In October, the company had made a initial delivery of rough diamonds after the completion of the first phase of the expansion improvements. Phase two upgrades are expected to be completed in the first half of 2022.
2. Lucapa Diamond Company
Gain since the start of the year: 63.16%; current share price: AU $ 0.09
Africa-focused diamond producer Lucapa Diamond Company (ASX: LOM) is one of the leading diamond holdings listed on ASX. The company owns two high-yield mines, Lulo in Angola and Mothae in Lesotho. Lucapa is conducting an exploration program to discover the main kimberlite source of the alluvial production at Lulo.
The company recovered a number of large diamonds over 100 carats, including a massive 215 carat stone in February of this year. December 1 cumulative sales of the Lulo mine were at a new annual record of US $ 73.8 million based on a record 25,844 carats sold at an average price of US $ 2,857 per carat.
In December, Lucapa completed the acquisition the historic Merlin Diamond Project in the Northern Territory, Australia; the project contains a JORC compliant resource of 4.4 million carats. The company plans to put the mine back into production within two years.
3. Star diamond
Gain since the start of the year: 27.5%; current share price: C $ 0.26
Star Diamond (TSX: DIAM) currently owns 100 percent of the mineral provisions of Fort à la Corne, which includes the Star-Orion South diamond project. The mineral provisions of Fort à la Corne are located in the provincial forest of the same name in central Saskatchewan, Canada.
According to the miner, the vast expanse and massive volume of kimberlite contained in the Fort à la Corne field has been noted since the original discovery of these kimberlites in the late 1980s.
In a 2018 preliminary economic assessment for the Star and Orion South kimberlites, It has been reported that the assets could produce 66 million carats in a surface mine over a 38-year project life.
Gain since the start of the year: 19.53%; current share price: GBX 2,898
Global mining giant Anglo American (LSE: AAL, OTCQX: AAUKF) produces a variety of commodities, including diamonds. The company owns 85 percent of De Beers, the world’s largest diamond company, with the remaining 15 percent owned by the government of Botswana. De Beers produces about a third of the world’s supply of diamonds and owns diamond mines in Botswana, Canada, South Africa and Namibia.
In his production report Q3, the miner announced that diamond production rose 28 percent for the quarter, noting that it had forecast higher production to meet recovering demand in the United States and China.
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Securities Disclosure: I, Melissa Pistilli, do not hold any direct investment interest in any of the companies mentioned in this article.
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