Wollongong stockbroker Doug Symes has hosted an event for local investors to inform them of a company called Frontier Diamonds being listed on the Australia Stock Exchange.
Mr Symes wanted to provide them an opportunity to find out more because he is aware there are few diamond companies listed on the ASX.
At the event Novus Capital senior client adviser Thomas Booth and Frontier Diamonds managing director Jan Louw presented.
Mr Louw said he believed it was a good time to raise capital for diamond mining because “they predict in the next two to three years there is going to be a real shortage in diamonds. We believe there is going to be a strong demand for diamonds,” he said.
Mr Symes said there are many different kinds of investments. Over the years people choose whether they just want to invest in shares, property, art and or a mix. “But within the share area there are very few companies where you can invest in diamonds”.
He said the opportunity for investors to buy into a pure diamond company and raise capital for a diamond mine was rare. And with Frontier Diamonds being listed on the ASX this was such an opportunity and he wanted to give his clients a chance to find out more.
“It is an IPO, and Initial Public Offering, so if anyone wants to take up shares they can get a copy of the prospectus from us,” he said.
Mr Booth said since the lunch in September "progress on the mines has continued unabated and now Frontier is in a stronger position".
Mr Louw said the visit to the Lagoon Restaurant was his second time to Wollongong but the first time he had addressed Novus Capital clients.
One mine has been optimised and the capital works program at another will be completed by April next year.
Mr Symes said there was only a short time to get application forms back to Computershare Investor Services and he now has printed copies of the prospectus in his office. It can be viewed at www.frontierdiamonds.com .