Companies:
LAF

��
21/04/2006
Lonrho Africa-backed AIM candidate Nare Diamonds says it has recovered a 235 carat stone from South Africa's Schmidtsdrift mine.
Charles Mostert, boss of Nare, says the diamond is octahedron in shape and 'of very good quality', according to independent assessors. Diamonds of this size are rare and can command high prices when cut and polished, as instanced by a 135-carat stone last sold in the 1990s for more than �2 million.
Lonrho Africa, nowadays run by entrepreneurial Australian David Lenigas, recently paid �1.5 million for 17 per cent of Nare Diamonds, which it intends to float shortly on AIM. Headed by Mostert, a former director of Petra Diamonds acquisition Crown Diamonds, Nare doubtless hopes to achieve a float price above the 10.4p a share which Lonrho paid — helped by the Schmidtsdrift find.
Lenigas has declared he wants to beef up Lonrho Africa, with mining developments from gems to uranium and with infrastructure and up-market tourism ventures. At 28p, the shares offer speculative spice.
Growth Company Investor’s award-winning team offer outstanding share recommendation performance. Get immediate access to all these recommendations – click here.
Robert Tyerman
People who read this article also read ... |
| 25/04/2006 |
| 21/04/2006 |
| 21/04/2006 |
| 21/04/2006 |
| 11/04/2006 |
| AIM | �42.94m |
27.25p
|
-6.50p
|
|
Other company articles: |
| 21/04/2006 |
| 11/04/2006 |
| 10/04/2006 |
| 30/03/2006 |
| 15/03/2006 |
Invest in the Stock Market at TD Waterhouse
Open an account with TD Waterhouse and get two months commission free share trading. Trading accounts available online today.
Trade US Stocks with City Index
City Index spread betting - tax free dealing in shares, indices no commission, no stamp duty and CFDs (contracts for difference).
Commission-Free CFD Trading in Shares and Indices
Our award-winning trading platform offers free charting, news, analysis and mobile trading. CMC Markets UK Plc is authorised and regulated by the Financial Services Authority.