Business

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

Published

5 years ago

May 16, 2019

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.

Business

Fitness Dating Brand, FITFCK, Expand Into Influencer Management

Published

2 weeks ago

November 27, 2023

Matthew Wiles

Fitness dating brand, FITFCK, recently announced the launch of their management company “FITFCK MGMT”. The company, which recently announced the launch of its £5m A Round investment raise is looking to expand on their brand growth by offering content creators of all niches and brands a full 360 lifestyle management service.

Rebranded in March 2022, the recently featured BBC News company has emerged as the leading brand for gym goers that are looking to make new connections – whether through IRL fitness dating events or online dating experiences. To accompany its strong digital product suite, FITFCK is now developing a series of consumer products to further enhance their brand power, with the most recent being a holistic management company for content creators and brands.

FITFCK Founder and UK Government Enterprise Advisor, Jamie says: “Having worked closely with content creators for the last eighteen months since our relaunch, this addition made nothing but complete sense to me. As a management service, you should be looking at improving all angles of your clients life – not just quick brand deals for a few quid. We are looking to offer a 360 lifestyle approach where we assist our clients with everything from their income, branding, business advisory, PR, legalities and more – all under the FITFCK brand umbrella.”

To continue its ruthless chase of becoming the largest omni-channel community for dating, relationships, casual meets and friendships, FITFCK will be looking to embed the management service into members of their ever growing community which already includes a number of high profile content creators.

The first creator to be signed under the label is Santino Valentino, a fitness content creator boasting over 70,000 followers across platforms. Valentino states; “I have known Jamie for a few months now and have felt nothing but constant support from himself and the rest of the FITFCK team. Having seen where they have taken the brand in such a short space of time, I am hoping they can do the same for me. I am really looking forward to seeing where we can take this whilst learning under Jamie and Callum simultaneously”

FITFCK MGMT athlete manager Callum Roberts added: “At the core of every FITFCK movement is the care we have for our community. This ethos is something that we will be looking to reflect in the management company. Hyper-focused care for our clients where they know they feel valued and at ease with us. We are not looking to just improve our client’s income, we are looking to improve their lifestyle”

If you are looking to work with FITFCK MGMT, you can contact the team at support@fitfck.co.uk for more information.