Friday, August 24, 2007

Just in - Pnina Feldman plans rich gold listing

West Australian Newspapers June 2006

Pnina Feldman, estranged sister of Melbourne mining magnate Joseph Gutnick, will join forces with the Malaysian former backers of defunct miners Ashton Mining and Plutonic Resources in a $20 million backdoor listing of rich gold holding near Norseman.

Australian Gold Investments (AGI), a private investment consortium controlled by Mrs Feldman and her son Sholom, acquired a big tenement package near Norseman containing over 1.3 million ounces of resources from Canada’s Kinross Gold in August 2005.

Touted as the biggest tenement holding around Norseman after that of Croesus Mining, the package was to form the centrepiece of a $20 million float by AGI.


Sunday, July 22, 2007

Shareholders support Striker’s new lease of life

Australia’s Paydirt Magazine March 1999

Diamond explorer Striker Resources NL has given the Australian quest for another diamond mine a renewed dimension by getting shareholder approval for a $6 million placement.

The company, facing potential extinction a few months ago with low cash reserves, has sorted out earlier differences with Diamond Rose NL, and was expected to relist later this month.

The capital raising has some luminaries, as big blocks were taken up through Sydney business man and former FAI Insurance Ltd chief Rodney Adler and international market maker George Soros.

Diamond Rose has subscribed to $4.07 million, taking up 50.826 million shares and a similar number of options that will take its holding to 40.3% while FAI took up 12.5% stake.

Striker’s managing director Clayton Dodd told a shareholders meeting this month that Diamond Rose was well advanced on raising the additional capital.

Dodd said Striker can now accelerate exploration work on its North Kimberley prospects where a big focus will be placed on the Ashmore and Seppelt diamondiferous pipes.

Diamond Rose’s chairwoman, Pnina Feldman, said the outcome was a win for all sides.

Striker’s new chairman is Tim Mainprize.

If all placement options and the option facility were exercised by September 30,2002, a further $24.65 million would be generated for Striker.

Pnina Feldman is rich – with nothing to show for it

The Advertiser – Adelaide 19/04/97 By Ian Lovett

The sister of corporate high-flyer Joe Gutnick proved yesterday that diamonds really are a girl’s best friend when her new company made a spectacular debut on the sharemarket.

In scenes reminiscent of the Poseidon days in the 1920’s the 20c shares in Pnina Feldman’s Diamond Rose company soared to $1.75.

At that high point, Mrs Feldman – who owns 57.5 per cent of the company – was worth $44.6 million on paper.

When trading finished, the shares were selling at $1.29 – still more than six times their issue price. All that from a company which has yet to find a diamond.

With four of her daughters, six rabbis and baby grand-daughter Rose, whose name the company borrowed, Mrs Feldman watched the action on the Australian Stock Exchange in Sydney.

“Diamond Rose is truly blessed,” she said. “But I’ll be even happier when we find diamonds”

The company has a batch of exploration leases.

Mrs Feldman started the company to help her husband, Rabbi Pinchus, fund a centre which supports education and welfare.

“I only hope never to make so much money that my head spins so much so I get diverted from helping the community,” she said.

Ms Feldman says her motivation in floating the company is to find the 12 gemstones of the breastplate worn by the High Priest in the Temple of Jerusalem 3000 years ago, as describes in The Bible.

Perpetual Trustees, which landed a stake of four million shares in the 10 million share float, is believed to have made a $3.5 million profit already on its $800,000 investment, selling 3.9 million shares at $1.10 each.

Pnina Feldman - Diamond Rose shines on debut

19 April 1997 By Christine Lacy

Joe Gutnick’s sister Pnina Feldman led Diamond Rose to a stunning debut when her small gemstone hopeful finished its opening day valued at $159 million.

The shares opened at $1.51 and, within an hour, the hype surrounding the float had driven them to a staggering high of $1.75.

This represented a nine-fold increase on their 20c issue price.

Shares in the fledgling miner ended the day at $1.29, valuing Ms Feldman’s personal 57.5 per cent stake in the miner at a staggering $91.59 million.

The company, which has no proven tenements, is capitalized at $156.1 million, compared with its $10 million initial public offering. Outside the Sydney exchange, Ms Feldman, flanked by four daughters, six rabbis and grand-daughter Rose said she was ecstatic with the debut, adding: “I’ll be even happier when we find diamonds.”

But Ms Feldman, whose motivation in floating the miner is to find the 12 gemstones of the breastplate worn by the High Priest in the Temple of Jerusalem 3000 years ago – as described in the Bible – is unable to sell her 57.5 per cent stake.

Under stock exchange listing rules, she is prevented from selling her shares for two years. Her recent bid to gain an exemption from the restriction failed.

High-profile Melbourne miner Diamond Joe Gutnick yesterday declined to confirm whether he had been allocated a stake in Diamond Rose.

But the miner’s top 20 shareholders boasts other high-profile investors.

Perpetual Trustees, which landed four million shares in the 10 million shae float, is believed to have crystallized a $3.5 million profit on its $800,000 investment, selling 3.9 million shares at $1.10 each.

James Packer and the George Soros group are also believed to have landed a stake in the hotly sought-after offering.

The debut was reminiscent of that of Me Gutnick’s diamond hopeful, Astro Mining, which last September was reinstated to the boards at a 20-fold premium to its 20c placement price.

On its first day of trade, Astro finished at $4.10, booking Mr Gutnick a $70 million profit. Yesterday, Astro closed steady at $3.60.

However, his sister has now come close to upstaging the St Kilda mining magnet in the diamond stakes, but Joe is also building one of Australia’s biggest gold empires.

Three in a bed of Roses - Pnina Feldman

Minerals Gazette April 1998

Diamond explorer and pittado miner, Diamond Rose NL has set its sights on two West Australian diamond explorers, Stiker Resources NL and Dioro Exploration NL. If successful, the takeover will represent a major expansion of Diamond Rose’s position in the North Kimberley region of Western Australia.

The bid is linked with the problems besetting Striker’s majority (20%) shareholder, Australian Gold Fields NL, which has fallen into administration after disputes with financiers Prudential Bache International and Rothschild Australia over silver forwards.

Diamond Rose proposes to offer one share in Diamond Rose for every ten Striker shares. If Diamond Rose were to acquire 100% of Striker this would result in the issue of 10,194,085 new Diamond Rose shares (if no options are exercised) taking the issued capital of Diamond Rose to 133,604,924 shares.

The 1-for-10 scrip offer for Striker values the company at $5.1 million, nearly half its market value of $9 million.

Both offers are subject to a minimum acceptance of 50.1%. In the case of Striker the offer states that none of Striker’s financiers, including Australian Gold Fields, can demand repayment of any loan facilities.

Dioro shareholders will be offered six Diamond Rose shares for one Dioro share, valuing the target at $4,954,091 compared to its present value of $3.69 million.

The December agreement between Diamond Rose and Dioro, in which Diamond Rose agreed to earn a range of interests in the King George and Casuarina tenements by paying $1.25 million and agreeing to spend $2.5 million on exploration, has been rescinded.

If Diamond Rose acquired 100% of Dioro this would result in the issue of 9 million new Diamond Rose shares lifting the issued capital to 133,319,022 shares.

Diamond Rose is currently evaluating Dighem survey anomalies at Striker’s Upper Beta Creek where at least four kimberlite pipes have been discovered by recent drilling and sampling, including Ashmore 1 and 2. Striker announced in December that it would commence a mining feasibility on the latter two pipes to assess their commercial potential.

Diamond Rose said the application of its resources to the area would be of immense benefit to shareholders.

Yes we have no Pittado

While most miners have been swimming against the tide in recent times, pioneering pittado miner, Diamond Rose NL, seems to have made a nice little earner out of their “unique” gemstone.

Following last year’s successful sale of one kilogram of Pittado to a US home shopping TV network. American viewers will be abe to get their Pittado in pieces of jewellery thanks to a distribution and marketing deal with US jewellery giant, Clyde Duneier Inc.

Duneier, one of the largest privately owned manufacturers of jewellery in the United States, will be developing a range of jewellery using the Pittado gemstones, and naming if “the Diamond Rose Collection”.

The gemstones, which hail from the company’s Rocklea project in Western Australia’s Pilbara region are said to be green quartzite and are similar in appearance to jade.

Duneier plans to introduce Diamond Rose’s gemstones to world markets and will market the range in the United States, Canada and Japan through television promotion on television shopping networks and retail outlets.

The first US national television broadcast is planned to air by August 1998 and will feature gold and silver jewellery featuring pittado.

Diamond Rose said that as a result of this agreement it is anticipated that the company will show an increase in gross revenues of a minimum of US$4 million over the next 18 months.

Diamond Rose Chairperson, Pnina Feldman, said: “The Diamond Rose story lends itself to home shopping style of presentation of a company and its products. Our company has a colourful and rich background which will complement the appeal of our uniquely Australian products.

“Focusing on the gemstones’ association with Australia and Australian culture provides a unique selling point to the United States market.”

Commenting on the agreement, Duneier’s President, Marc Duneier, said: “It is very rare that a new gemstone is discovered that has such an extensive appeal.

“Pittado has a deep magic green colour that appeals across all market sectors and is ideal for television promotion”

“The Australian connection adds myth and mystery – the stone and the country have a great story to tell and we will be promoting the Diamond Rose Collection at a time of strong consumer attention and interest in Australia.”