Pnina Feldman - Diamond Rose flowers

Rose flowers

The Adelaide Newspaper 13 March 2001

Diamond Rose has negotiated a joint venture with South Africa’s De Beers for subsidiary Kimberley Rose. De Beers will spend $10 million to earn a 51 per cent interest in the first of the seven major projects. Diamond Rose plans to list Kimberley Rose on the stock exchange but will maintain at least a 51 per cent stake in the company.

De Beers to buy into Kimberley Rose prospect

Mining News 12 March 2001 By Sinead Mangan

Diamond Rose subsidiary Kimberly Rose has negotiated a joint venture deal with De Beers on one of its seven central Kimberley diamond prospects.

Kimberley Rose aims to float on the Australian Stock Exchange in the near future, with Diamond Rose maintaining at least 51% stake in the new diamond explorer.

Under the joint venture agreement De Beers will spend $10 million on Diamond Rose’s ELA 2662 and 2663 tenement. It will also outlay the capital funds for the building of a mine following a decision to mine.

The ground, according to Diamond Rose, has had millions of dollars spent on it in data accumulation over the past 30 years by major companies including De Beers.

Kimberley Rose holds seven major exploration projects covering 17 exploration licences over an area of 3474sq.km of the central Kimberley.

Diamond Rose shareholders will have preferential allocation of shares in Kimberley Rose’s initial public offering. Diamond Rose executive Pnina Feldman said details of the IPO would soon be released to the market.

Diamond Rose’s trading halt, which was placed on Thursday, was lifted this morning. Shares opened at 22c and are currently trading at 20.5c