World’s largest, newest diamond mine to inject $5.2bn into Canada’s economy

Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPV, NY-AMEX: MDM) today announced the results of an updated independent valuation of the diamonds recovered from the Gahcho Kué Project. The valuation was conducted by WWW International Diamond Consultants Ltd. and took place at the London offices of the Diamond Trading Company in early April, 2011. All diamond values presented below are based on the WWW Price Book as at April 11, 2011. Importantly, for the first time, the Gahcho Kué diamonds were grouped into larger parcels, each parcel representing diamonds from the Hearne, Tuzo and the separate lobes of the 5034 kimberlite. In the opinion of WWW, grouping of the diamonds into larger parcels increased the accuracy of the diamond valuation.

Vaaldiam Mining Inc. (TSX:VAA) is pleased to report that Flemish Gold Corp. has closed a private placement of $10 million through BMO Capital Markets on May 3, 2011. Vaaldiam owns 10,625,000 common shares of Flemish. The private placement consisted of 10 million units priced at C$1.00. Each unit included one common share and one warrant to buy one share at $1.20 for 24 months. Flemish expects to go public in 2011 and now has 57.3 million common shares issued. Image by Valldiam Resources Ltd.

Shear Diamonds Ltd. (TSX VENTURE:SRM) today announced the commencement of its spring drilling program at its 100% owned Jericho Diamond Project, Nunavut. The first drill hole within the Jericho open pit into the Jericho Kimberlite Complex has been completed and intersected more kimberlite than expected based on the past models.. As part of the ongoing exploration program (see news release February 28, 2011), a series of six angled delineation drill holes have been planned to test areas of the Jericho Kimberlite Complex where it is felt that additional data points are required and to determine the potential for increased tonnage.

Talmora Diamond Inc. (CNSX:TAI) is pleased to announce that it proposes to complete a part brokered and part non-brokered private placement of up to 25,000,000 Units, comprised of at least 20,000,000 Hard Dollar Units and up to 5,000,000 Flow-Through Units at $0.05 per Unit, for gross proceeds of up to $1,250,000. The private placement is expected to close not later than May 16, 2011.

Rio Tinto , the world's third-largest miner, expects global markets to remain fragile in the near term and sees itself in a strong position to weather any turbulence, its chairman said on Thursday. The company said that it expected little impact on demand for commodities following the earthquake and tsunami disasters in Japan, and said in the long run demand may increase as Japan moved to rebuild.

Tanishq opened a large-format jewelry boutique at Andheri in suburban Mumbai on April 29. The 20,000 sq. ft. store was inaugurated by […]

Charles & Colvard’s first quarter net sales increased 4% to $3 million, the moissanite maker reported Thursday. The increased income did not […]

True North Gems Inc. (the "Company") (TSX VENTURE:TGX) announces that it has completed the second tranche of its previously announced and oversubscribed non-brokered private placement. The second closing is for proceeds of $615,000. The Company issued 6,150,000 units at a price of $0.10 per unit. Each unit is comprised of one common share and one half non-transferable common share purchase warrant, each warrant exercisable for one additional common share for a period of two years at a price of $0.15 per share for year one, and $0.20 per share for year two. Two finders received finders' fees of in the aggregate $21,500 in cash and 215,000 finders' warrants in connection with the closing of this second tranche, each finders' warrant exercisable for one common share for a period of two years at a price of $0.12 per share.

Namdeb Diamond Corp said on Thursday that it had moved back into profit as the global recovery stoked demand for its luxury product and it was cautiously optimistic about the market picking up further. Namdeb, Namibia's main diamond producer, is a 50-50 joint venture between De Beers, which is 45 percent owned by mining group Anglo American (AAL.L: Quote), and the country's government.