Rockwell Diamonds

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Rockwell Diamonds, Inc.
Type Public company
Traded as JSE: RDI
TSX: RDI
OTC Pink: RDIAF
Industry Mining
Headquarters Vancouver, Canada
Key people James Campbell CEO, Mark Bristow, Chairman
Products Rough high value diamonds
Website RockwellDiamonds.com

Rockwell Diamonds is a mid-tier diamond mining and development company. The company has an interest in producing and exploration alluvial diamond properties in southern Africa. The stocks of the company trade on South African, Canadian, and American exchanges. The company was recently in the news due to a hostile takeover bid that was attempted by Pala Investments Holdings Limited.[1][2][3][4][5]

In April 2013, the firm sold its Klipdam mine in South Africa to a private diamond miner for R23 million. Rockwell announced it would reinvest the money in the Niewejaarskraal mine and into the growth of the company’s footprint in the Middle Orange River region.[6]

Company profile

Rockwell is listed on the Johannesburg Stock Exchange (JSE) under the symbol RDI, the TSX under the symbol RDI and the Over-the-Counter Bulletin Board and trades under the symbol RDIAF.

Properties and projects

The company's mines are:

  • Holpan-Klipdam Property
  • Wouterspan Property
  • Saxendrift & South Bank Middle Orange River Operations
  • Niewejaarskraal & South Bank Middle Orange River Operations

All are producing mines, with no exploration risk or costs attached to them. Rockwell operates the Holpan and Klipdam mines north of Kimberley, and the Saxendift mine on the Middle Orange River ("MOR") southwest of Kimberley. The Wouterspan mine, also located on the MOR, is on care and maintenance. All of these operations are located in the Northern Cape Province of South Africa.[7]

Takeover target

Rockwell Diamonds Inc was in news in 2009 when Switzerland based Pala Investments Holdings Limited made takeover bid on the company which was resisted by the minority directors of the company.[1][2][3]

In May 2010 the Financial Times reported again that Rockwell Diamonds was a target for takeover.[8]

References

  1. ↑ 1.0 1.1 Rockwell faces new Pala attack Brendan Ryan | Thu, 30 Apr 2009 14:30
  2. ↑ 2.0 2.1 Pala Sets the Record Straight on Rockwell in the Face of Minority Directors' Flip-Flops
  3. ↑ 3.0 3.1 Pala cuts Rockwell holding, board rep quits, Liezel Hill, 23 June 2009 http://www.miningweekly.com/article/pala-cuts-rockwell-holding-board-rep-quits-2009-06-23
  4. ↑ UPDATE 1-Rockwell asks shareholders to reject Pala offern, Mon 22 Sep 2008 7:11 pm IST,
  5. ↑ Thomson Financial News, BRIEF-Rockwell Diamonds withdraws Pala bid, 11.04.08, 1:59 pm ET,
  6. ↑ Rockwell offloads Klipdam to private buyer for R23m, South Africa: Mining Weekly, 2013 
  7. ↑ Rockwell recovers 66 carat stone from Holpan, 124 and 145 carat stones from Saxendrift and presents year to date diamond sales information
  8. ↑ Hunt for new diamond capacity likely to lead to further consolidation in industry , By Paulina Lichwa . Published: 10 May 2010 13:02 .

External links

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