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Toronto’s Paragon International on Impact of Argyle Mine’s Unclear Future

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The global mining giant,  Rio Tinto , which owns and operates the Argyle diamond mine in western Australia’s East Kimberley region, has reported a striking drop in the mine’s resources at the end of 2016 and recently announced it is reviewing its previous plans to expand the mine. Wealth management specialists say this will have a drastic impact on the value of Argyle diamonds moving forward.     Rio Tinto recently released an updated  reserves and resources statement  for the Argyle mine, a statement that described a drop in mine production by two-thirds, from 44 million tonnes of ore at the end of 2015 to 15 million tonnes at the end of 2016. The Argyle mine is considered to be extremely valuable to the diamond market. It’s been in operation since 1983 and has produced more than 800 million carats of rough diamonds. It’s also one of the world’s largest  sources of diamonds  and largest sources of natural colored diamonds, including the coveted  Pink Argyle diamond
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Toronto's Paragon International Anticipates Record Pink Diamond price of over $60 Million at Auction

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Paragon International Wealth Management Inc.  expects an upcoming April diamond auction to be a landmark event as the most valuable polished diamond in history is set to make an appearance. The diamond auction will take place on  April 4th  at the Sotheby's Hong Kong Magnificent Jewels and Jadeite sale, where "The Pink Star", a 59.60 carat diamond that is estimated to fetch  $60 million , will be presented. The Pink Star was initially mined by De Beers in 1999 in  Botswana . 132.5 carats as a rough diamond, The Pink Star was cut and polished over a period of two years into a remarkably large, oval-cut diamond. The Pink Star is graded as a Type IIa, a rarity for any pink diamond, and is the largest Internally Flawless Fancy Vivid Pink diamond ever graded by the Gemological Institute of America.  This will not be the first time The Pink Star has seen the auction floor. In  November 2013 , The Pink Star was sold for  $83.2 million  
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Location: Toronto, ON, Canada
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Fancy Diamonds Are Asian Women’s (And Men’s) Best Friend, Driving 40% of Global Value

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In Asia these days, diamonds are more than just a girl’s best friend. Men appreciate them, too, and many couples will walk away from jewelry stores wearing his and her diamond engagement rings – frequently featuring fancy colored stones, in a suitably masculine color for him. In fact, a   DeBeers survey   found that 67 percent of Chinese men between 30 and 44 want to have diamonds.   Rising wealth and the Westernization of Asia, particularly in China, Hong Kong and Taiwan, are   driving the ongoing boom in the diamond market . Colored diamonds, in particular, are very hot, and buyers appreciate them as much for their beauty in a piece of jewelry as they do for the way they hold their value. From 2006 through 2014, fancy colored diamonds – think pink, yellow and blue – have appreciated by nearly 155 percent, more than twice the gains of the better known colorless white diamond. The Fancy Color Research Foundation (FCRF), which tracks diamond values, also notes that today
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Location: Toronto, ON, Canada
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Paragon International Wealth Management Highlights Green Diamonds' Upward Trend

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Paragon International Wealth Management , a   leader   in the acquisition and management of fancy colored diamonds, is reporting increased interest in rare green colored diamonds. The heightened attention the exquisite diamonds are attracting comes on the heels of last year's sale of the " Aurora Green " diamond, a very rare 5.03-carat fancy vivid green diamond. The magnificent piece was sold at auction for a record-setting   $16.8 million   by Christie's at the Hong Kong Magnificent Jewels sale in June last year. Featuring a spectacular rectangular cut, the fancy colored diamond was considered the focal point of the jewel sale and, according to representatives at   Christie's , the Aurora Green set a "world auction record for a green diamond and world record price per carat for a green diamond." 2016 proved to be an extremely good year for fancy green diamonds in particular. Before the Aurora Green brought in more than   $3.1 million  
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Location: Toronto, ON, Canada
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