Russia to continue buying diamonds through state fund in 2025
The Russian budget for 2025-2027 has set aside $1.55 billion for the purchase of precious metals and gems.
Growing up in a coal mining industry in Wales, Gren Thomas started working underground when he was 16 years old. At 25 he moved to Canada to work in geology, drilling, and then exploration. His daughter has followed in her fathers footsteps growing up in the mining business and training as a geologist.
His first discovery was a large rare earth deposit containing large amounts of tantalum and beryllium later picked up by Avalon Minerals. Gren also shares the story of his part of the discovery of diamonds in Canada which has led to a billion dollar business.
Westhaven Ventures was started by Gren and his son and is now a successful gold explorer. During the Fraser river gold rush in the 1850s the source of the gold was never found. In 2005 the first drill hole since that time in the area ran 12 meters of 20 g/t gold. Westhaven now has 30,000 hectares in this area
The mining business has been hard to finance but this project is extremely promising. The mining industry need a big new discovery to really set off a bull market, a new gold rush. Westhaven Ventures could well be the company to make that discovery and is way under-priced at present.
Talking points from this week’s interview:
*Diamonds in Canada – who would have thought?
*A new discovery could trigger a gold rush
*The source of gold at Fraser river remains undiscovered
*Westhaven ventures sitting on a gold mine?
Dr. David Grenville Thomas, P.Eng., also known as Gren, serves as the Chief Executive Officer and President of Westhaven Ventures Inc. Dr. Thomas has over 50 years’ experience in the mining industry, during which time he has built an impressive track record of discovery, most notably the Diavik diamond mine and the Thor Lake rare metals deposit, both in the Northwest Territories. He joined the mining industry in 1957. He served as Chief Executive Officer and the President at North Arrow Minerals Inc. from March 30, 2012 to April 2013 and also from April 2009 to March 2011. He served as President of Navigator Exploration Corp. from July 23, 2003 to April 2004. He Founded the Vancouver based exploration company. He served as President of Strongbow Resources Inc. from March 2001 to January 2003. He was Founder of Dominion Diamond Corporation and served as its Chairman and President. He worked for a number of companies, including Falconbridge Nickel Mines in Sudbury, Ontario and Giant Mines in Yellowknife, Northwest Territories.
