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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

Stankevicius Interactive Media Platform is an Advantage to Global Business

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PR and advertising firm Stankevicius MGM is releasing a new media platform enabling companies to publish various format materials online such as articles and press releases. As companies are seeking for audiences locally and globally it is important to them not limit themselves to general marketing techniques such as social media but also extend limitless opportunities to foreign markets via general media.

Stankevicius firm has been providing public relations and media services for companies to achieve branding excellence, attract investors and gain new customers. According to Stankevicius, traditional journalism provides just enough belief to convince the audience of the brand’s message. 

As media has been a powerful channel for centuries it has not stopped, just that due to recent technological advancements, companies have forgotten how important media can actually be and is. Cheaper access tools like Facebook and Instagram are no longer working due to extreme competition. PR and advertising agencies are expensive. 

Since PR is about people relations, it does involve a lot of work which makes the service cost expensive and not affordable to many customers around the world. However, Stankevicius Interactive Media platform reduces the manual work and enables customers to interact with media digitally online at their own convenience. This reduces the cost of PR service dramatically making media affordable to companies around the world.

Having a published article is not just a show off but actually a strategic move to build up a global presence. Consider that the internet is like one world, and search engines such as Google are in a way a marketplace for clients to search for providers. Every business should take care of their Google search results as it is absolutely critical to make sure that your company is trusted online. 

Consider that businesses today perform most of the activities online and creating a strong online presence is done not just through social media but actually through the actual media. If a business has no articles and a potential clients Googles company name and finds nothing but Facebook and Instagram accounts, that company is not differentiating. A client must be convinced and impressed. Now, if a business has published many articles via various local and global media it shows that the company is truly active in the industry, is strong and capable as well as respected and covered by 3rd media parties around the world. Such actions make the client’s decision making turn to buying side.

Stankevicius provides access for companies around the world to join Stankevicius Interactive Media platform and start publishing news as soon as possible. Every hour counts. Sign up for platform release here: interactive.stankeviciusmgm.com.

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