Rockwell said that if the deal is concluded, is expected to improve liquidity and working capital position of the company.
"The value of the proposed transaction is not high, and therefore it does not require shareholder approval We will report on further developments and / or a final agreement on the deal." - noted in the company.
Previously, the company Rockwell Diamonds reported a 14 percent drop in revenue from diamond sales - up to $ 10.6 million in the second quarter of fiscal year 2017 compared to $ 12.3 million in the same period a year earlier.
Rockwell also recorded a net loss of $ 600,000 compared to a profit of $ 1.1 million a year earlier.
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Demand for gold in China will continue to increase as investors are more inclined to buy less risky assets. In addition, jewelry consumption is growing. This is according to the China Gold Association (China Gold Association). According to the report, which the organization has released 3 February, gold consumption in China in 2015 increased by 3.7% to 985.9 tons compared to 2014 year.
ReplyDeleteDemand has increased due to lower gold prices. In addition, the demand for gold as a safe haven has grown, says the association. It represents the interests of jewelers, refining factories, banks, brokers and mining companies.
The instability of the stock market in China, the weakening of the yuan and the drop in the price of gold to near six-year lows supported the demand for the precious metal in China. Gold exports from Switzerland to Hong Kong and Mainland China increased by 87% in December. Demand for gold in Asia, providing a consumption of more than 60% of the world gold is stable from a fundamental point of view, and is likely to continue to rise, noted in the RBC Capital Markets.
While the consumption of gold in China increased in 2015, it was below the record high of 2013 to 1176.4 tons, which was driven by a 28-percent drop in the precious metal prices.
"The Chinese are the gold from the consumer point of view, regardless of the price of the metal, so the demand will continue to grow gradually - Tszyan Shu said (Jiang Shu), principal analyst Shandong Gold Financial Holdings Capital Management Co. - however, it will be difficult to repeat the high rate of consumption 2013, if prices have not fall. "