{"id":465966,"date":"2017-04-04T18:40:58","date_gmt":"2017-04-04T18:40:58","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=465966"},"modified":"2017-04-04T18:40:58","modified_gmt":"2017-04-04T18:40:58","slug":"dominion-diamond-looks-for-potential-buyers-in-own-backyard-source-2","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=465966","title":{"rendered":"Dominion Diamond looks for potential buyers in own backyard \u2014 source"},"content":{"rendered":"

By analyst<\/a><\/span> <\/p>\n

By Cecilia Jamasmie<\/a><\/span> <\/p>\n

Dominion Diamond (TSX, NYSE: DDC), which put itself up for sale last week<\/a> after receiving a $1.1 billion takeover bid<\/a> from US billionaire Dennis Washington, is said to be looking to secure a deal with fellow Canadian diamond miners, a source familiar with the matter who wishes to remain anonymous said.<\/p>\n

This is not the first time Dominion explores a sale. In Dec. 2015, it launched a similar process, which didn’t result in any deal.<\/p>\n

The company, the world’s third largest producer of rough diamonds by value, has already created a special committee and is working with TD Securities to explore, review and evaluate a range of options for maximizing shareholder value.<\/p>\n

Those alternatives, as the company informed, include selling the firm to another diamond miner, which according to one person with knowledge of the strategy, would likely be another Canadian company.<\/p>\n

Dominion did not reply to requests for more information by the time this story was published, but previous media reports<\/a> had named Stornoway (TSX:SWY), a small-size firm that recently opened its Renard mine<\/a> in Quebec, as one of the miners interested in a potential merger with Dominion Diamond.<\/p>\n

This is not the first time Dominion explores a sale. In Dec. 2015, it launched a similar process<\/a>, which didn’t result in any deal.<\/p>\n

Over the past year, the company was hit by weak global diamond prices, as well as sudden challenges, including the death of the company’s founder, Robert Gannicott, and a fire at Ekati that suspended processing for three months and cost the miner around $20 million in repairs.<\/p>\n

In January, it announced that its chief executive officer Brendan Bell was leaving the company<\/a> due to personal reasons related to the company’s planned move of headquarters<\/a> to Calgary from Yellowknife.<\/p>\n

The move, expected to be completed by mid-2017, follows a similar decision by De Beers Canada<\/a>, which moved its headquarters from Toronto to Calgary in July last year.<\/p>\n

Shares in the company were down 0.77% in Toronto to Cdn$16.83 at 12:31PM and were trading 0.95% lower in New York to $12.55 at 12:55PM ET.<\/p>\n

The post Dominion Diamond looks for potential buyers in own backyard \u2014 source<\/a> appeared first on MINING.com<\/a>.<\/p>\n

\u2026read more<\/a> <\/p>\n

Source:: Infomine<\/a><\/p>\n

The post <\/a>Dominion Diamond looks for potential buyers in own backyard \u2014 source<\/a> appeared first on Junior Mining Analyst<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By analyst By Cecilia Jamasmie Dominion Diamond (TSX, NYSE: DDC), which put itself up for sale last week after receiving a $1.1 billion takeover bid from US billionaire Dennis Washington, is said to be looking to secure a deal with fellow Canadian diamond miners, a source familiar with the matter who wishes to remain anonymous […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/465966"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=465966"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/465966\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=465966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=465966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=465966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}