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Petra Sells 425-carat Cullinan Mine Diamond to BVBA for $15 million

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United Kingdom – Petra Diamonds has revealed that it has sold a 425-carat diamond, which it recovered at Cullinan mine in South Africa, to BVBA for $15 million. The company took the decision to ensure a sufficient amount of cash flow in the current year. BVBA, a Belgium-based Stargems Group and Choron bought the diamond named, ‘Legacy of the Cullinan Diamond Mine’ from Petra which threw light on the quality of the ore in the mine.

Cullinan mine was bought by the miner from De Beers in 2008 to start a new life. This mine was known for giving the largest rough gem diamond – 3,106 carats, and has been popular for being the source of rarely found blue diamonds. According to BMO Capital Markets analyst Edward Sterck, the purchase price of $15 million was set as an estimation amidst the environment when Cullinan prices are decreasing on a large scale. The miner lagged the small-cap index as his shared went down by 3.8% to reach 23.90 pence by 1405 GMT.

Gia report has established that many diamond producers have been providing a variety of diamonds to the world which is why there is an increase in the popularity of various types of diamonds. Petra is dealing with the multi-million-dollar debts that it took to renew the Cullinan facility with the starting of mining at a new section of ore in the last July. But the Cullinan mine has turned out to be a profitable investment for Petra since 2008 and it would generate free cash flow in the current year. Due to the sale of the diamond, Petra Diamonds would be able to meet the target to achieve free cash flow. Petra Diamonds is likely to recover higher value stones in the quarter which would increase the pricing for Q4 more than the estimated amount. The diamond industry has been making huge progress with the introduction of new technology such as blockchain which has contributed to it on a strong note.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

How Buttonwood Property Management Navigates the Challenges of Property Management in a Thriving Market

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A thriving real estate market is full of new opportunities for investment, but it is also rife with significant challenges. One perfect example of this is Toronto’s real estate market, which is bursting with activity due to Toronto’s status as the fastest-growing city in all of North America. Part of Toronto’s fast growth can be attributed to its status as a highly transient city, as 50% of Toronto residents were not born there, but are more recent immigrants or transfers from other nearby cities. As a result, there is a pressing need for more and more residential properties, as well as commercial properties, for companies seeking to take advantage of increased foot traffic. 

The challenges of investing in real estate in an urban hub such as Toronto include managing a supply of properties that may not be able to keep up with the demand, as well as keeping property values high in an ever-competitive market. Also, real estate investors struggling to keep up with a highly-demanding market may also experience difficulties with the day-to-day operations of physically maintaining a residential or commercial property.

For these reasons, property management companies have sprung up to address the needs of real estate investors who want to save themselves the time, effort, and stress of tending to all of their properties’ needs. A good property management company should also be capable of paying attention to details and addressing the specifics of relevant regulatory requirements and providing clear communication and dialogue with tenants. 

While all of these traits are necessary for property management in Toronto, Buttonwood Property Management has gone above and beyond the call of duty by adding another element to its core ethos. In addition to careful consideration of clients’ needs, Buttonwood Property Management puts people at the heart of everything they do. 

“Clients trust us with their most valuable assets because we never compromise on our ethical standards,” Buttonwood Property Management’s [insert name and role of representative here] says. “We specialize in helping owners enjoy peace of mind while ensuring tenants feel right at home.”

In its 14 years of existence, Buttonwood Property Management has built its reputation on long-term relationships with clients and tenants. By thoroughly screening potential tenants, the company has cultivated a spotless reputation, ensuring that rent is always paid to clients on time. Buttonwood Property Management has also provided residential and commercial property management and rental services in the Greater Toronto Area, such as bookkeeping, paying bills, rent collection, initial property inspections, and major renovations.

To date, Buttonwood Property Management has spread its ethos to neighborhoods in Toronto and other nearby areas such as North York, East York, Scarborough, and Mississauga. Through its continuous service, the company has demonstrated that any organization can navigate the challenges of Toronto residential property management by prioritizing quality over quantity and combining expertise with integrity. This has resulted in the company receiving industry awards from organizations such as Kingsway Real Estate Brokerage and iPro Realty Ltd., including the organization’s Platinum Award in 2020.

In the case of property owners, Buttonwood Property Management provides customized solutions to maximize returns while minimizing stress. The company’s experts and specialists take care of everything from tenant screening to maintenance coordination. In the case of tenants, the company seeks to make them feel at home by maintaining properties to the best standards and addressing their concerns promptly. This dual focus has not only strengthened the company’s reputation but also helped create thriving, harmonious communities. Combining professionalism with that personal touch has made Buttonwood Property Management stand out in the very competitive real estate market in Toronto, proving that it is through trust and relationships that sustainable success is realized.

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