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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

Report Shows Disney Dethrones Apple as the Most Intimate Brand in the World

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Every year MBLM does a Brand Intimacy Study to find which brands customers are most loyal to. It is the largest study of its kind, surveying 6,000 consumers. Participants are asked questions about which brands they use regularly, how they feel about those brands, and if they feel that they could live without the brands’ products.

This year, Disney managed to top Apple for the first time ever. Other brands in the top ten list included Amazon, Chevrolet, Netflix, Harley Davidson, Playstation, and YouTube. To see all of the details, you can download the full Brand Intimacy Study on MBLM’s website.

It’s not surprising that Disney has built such a strong following. With the Avengers and the Marvel Universe rocking the box office, related merchandise, shows, and events are drawing in record-breaking crowds. And, this is only the cherry on top of the Disney empire.

Disney has been a household name for generations. From Mickey Mouse to Disneyland to the Disney Channel to Star Wars and on and on. Disney has been on a solid growth trajectory for years and there’s no end in sight. Part of the reason that Disney is so successful is that it prioritized its relationship with consumers.

Brand intimacy has a significant impact on a company’s ability to survive and thrive.

According to MBLM’s Brand Intimacy Study, building brand intimacy creates price resilience and builds customer loyalty.

According to Digital Authority Partners, when consumers feel a bond with a brand, they are willing to pay more for their product than the product of a competitor. MBLM says that many of these consumers are willing to pay up to 20% more.

This willingness stems from an emotion-centered marketing strategy. For Disney in particular, nostalgia plays a big part in their marketing campaigns. The longevity of the brand has allowed for devoted consumers to pass their favorite movies or toys on to their children through multiple generations. The desire to purchase a product is pursued by a child and a parent.

The ability to pass on this brand intimacy to the next generation is made possible by a willingness to keep up with new technology. If Disney still produced the same sketch-cartoons of Steamboat Willie, the company would have died out decades ago. However, Disney is always looking for ways to stay in the spotlight.

A great example of this is Disney’s upcoming streaming service, Disney+.

The way that we view movies and TV shows is changing. Streaming services like Netflix and Hulu have paved the way for others. Disney, seeing this opportunity, has opted to remove their content from these streaming services so that they can remain exclusive to their own service.

Judging by the results of the Brand Intimacy Study, this will be a successful venture.

With big brands like Disney or Amazon, it can be extremely difficult to build a name for yourself as an emerging business. But, brand intimacy may be the answer to this problem.

It’s not enough anymore to have a good product. It’s so easy for another, bigger company to come along and start selling a similar product–and they already have the customer loyalty to back it up.

One great way for businesses to differentiate is to start building that emotional attachment with their customers by adopting a data-driven marketing approach. Business can build a connection by gauging customers’ interests with regards to what matter the most to them.

One strategy that has been leveraged more and more in recent years is the practice of giving back to a cause that a company’s target audience is passionate about. That is in line with recent report findings which show that Generation Z (young people aged 16 to 30) are particularly interested in giving back to the community according to a recent study.

To that effect, for example, Kool8, a company in Chicago that produces water bottles, has put in place a very clear give-back policy for their products. For every bottle that is sold, 20% of the profit will go towards providing clean drinking water for underprivileged areas of the world.

Another example is the Tiesta Tea Foundation. They work to support people in economic hardship, raise awareness and acceptance for people with special needs or disabilities, and also work to bring clean drinking water to developing countries.

These businesses go above and beyond distributing their product to help others in need and build brand intimacy. By working to solve problems that consumers care about, they earn their business and their loyalty. These tactics create an emotional bond with the product that the consumer would not typically feel with a new business or product.

Focusing on brand intimacy is a new norm for successful businesses. We’ve seen the success of a good brand intimacy building campaign from Disney, and you can bet that they are not going anywhere any time soon.

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