AWARENESS TIMES
Sierra Leone News & Information

State House | Press Union | Lumley Beach | AllAfrica | SL-Web

www.awarenesstimes.com

  Giving Knowledge to the People
welcome to sierra leone's premier news source
Last Updated: Jun 20th, 2017 - 16:33:40 
Front Page 
 
 NEWS
 Breaking News
 Local News
 Politics
 Photo News
 Video News
 
 EDITORIALS
 
 FROM OUR TEAM
 
 COMMENTS & OPINIONS
 Moiie's Column
 
 SPECIAL REPORTS
 Afsatu Kabba
 
 FEATURES
 
 ENTERTAINMENT
 
 PROFILES
 Role Models
 Awareness Lady
 Common Man
 
 THE ECONOMY
 
 NOTICES & DOCUMENTS
 Special Messages
 Legal Matters
 Obituaries
 
 PAID SUPPLEMENTS
 
 ADVERTISEMENTS
 
 SATIRE
Search


Published online by
Sylvia Blyden Dot Com

17 Garrison Street,
Freetown,
Sierra Leone.
Tel: +232-77-772001
Tel: +232-88-321000
Tel: +232-76-350077
Tel: +232-30-321001
Email:
editor@awarenesstimes.com
Website:
www.awarenesstimes.com

THE ECONOMY  

Romanian buys more Sierra Leone Diamonds shares
By
Jul 22, 2005, 17:16
Email this article
 Printer friendly page

A Press Release issued in Bermuda late Wednesday evening states that the Romanian refugee, Mr. Vasile Frank Timis has acquired an extra 500,000 shares of the Sierra Leone Diamond Company Ltd (SLDC). The nature of the transaction was not clearly stated in the Press Release. However, the percentage of issued class acquired by Timis now ensures that Timis controls almost 31% of the company’s shares and is the confirmed Majority shareholder.

Speaking in an exclusive interview with Awareness Times over the telephone from London yesterday, Mr. Martin Dunham, the Chief Financial Officer of SLDC confirmed that Mr. Frank Timis indeed purchased the extra 500,000 shares but that he was not at liberty to explain to Awareness Times newspaper exactly from whom the shares were bought by the Romanian Businessman.

A Romanian refugee, Mr. Timis set up three firms in London: Regal Petroleum, European Goldfields and Sierra Leone Diamond Corporation. However, few weeks ago, Mr. Timis became embattled by shareholders following his admission that Regal Petroleum’s key Greek oil operation may never be commercially viable and serious allegations that Mr. Timis has been named in three separate criminal investigations in Romania. Although Romanian officials and Mr. Timis himself denied the allegations, Timis was then forced to resign from Regal Petroleum although he still retains his position as Chairman and Head of Sierra Leone Diamond Company Limited. SLDC trades on the London Stock Exchange (AIM). Its profile on Yahoo International Financial Pages states that "Sierra Leone Diamond Company (SLDC), formerly Africa Diamond Holdings, just wants to get a hold of the precious gem."

Here in Sierra Leone, SLDC is indeed getting a hold of the precious gems. The company states that its mineral licences cover the entire northern third of the country including the area to the north and east of the known Koidu diamondiferous kimberlite field at Yengema, the newly discovered Kamakwie diamond field in the northwest of the country, the southwestern area of the country adjacent to the coastal plain and the lower half of the Sewa River area. The Company’s 20 mineral licences and one optioned licence covers a total area of 36,364 square kilometres. The licences are prospective for both primary diamond sources, such as kimberlite pipes and dykes, and secondary diamonds in alluvial deposits, swamps and lake sediments. Numerous other commodities including gold, iron ore, rutile, bauxite, and base metals occur within the licence areas.

The Romanian, Vasile Frank Timis is the major controller of all of this wealth.


© Copyright by Awareness Times Newspaper in Freetown, Sierra Leone.

Top of Page

Latest Headlines
NEWS
As he blasts dishonesty in Ward 139 bye election...JOB says Kambia SLPP Executives “Don Sell Game!”
Sierra Leone News : US Ambassador John Hoover donates 24 DAF Cargo Trucks to RSLAF
Sierra Leone News : Politician & Others Incarcerated for Alleged Case of Murder
EDITORIALS
Sierra Leone: Why Always Port Loko? Why? Why?
$200,000 AFCOM Scandal: Why VP Foh Must Be Very Careful
Front Page Editorial Advise... Tiffy Tiffy AFCOM's $200,000 Fake VSAT Contract & Hon VP Foh
FROM OUR TEAM
Sierra Leone: Unwrapping Yasmin Jusu Sheriff
COMMENTS & OPINIONS
Madam Zainab Sheriff Bangura For Lunsar Constituency
Sierra Leoneans still shamefully abusing social media to mislead public and tarnish the names of Government and country
7-storey APC/ CPC building and the hue and cry by detractors: The points being missed by the rabble-rousers
SPECIAL REPORTS
Sierra Leone Cabinet Minister Calls On Police to Investigate Conspiracy to Defraud Donor Funds
FEATURES
The Renaissance of Sierra Leone through the lenses of Attitudinal and Behavioural Change
Towards a modernised education system which can meet the challenges and opportunities of our future
Sierra Leone Social Welfare Deputy Calls Up Bizarre Press Conference
ENTERTAINMENT
No articles available.
PROFILES
OJU Wilson - Your contribution to the Human Rights Struggle and the Rule of Law will never be forgotten
Sierra Leone Politics : Alhaji Osman Foday Yansaneh, a Muslim Steering an all-inclusive APC Secretariat
TRIBUTE TO DR. V R WILLOUGHBY
THE ECONOMY
No articles available.
NOTICES & DOCUMENTS
THE BYE-ELECTION IN WARD 139 (KYCHOM) CONSTITUENCY 042 KAMBIA DISTRICT AND THE FAILURE OF THE SLPP TO NOMINATE A CANDIDATE
President Koroma Leaves for Germany
Standard Chartered Regional Head of Compliance, Africa & Middle East Visits Sierra Leone
PAID SUPPLEMENTS
No articles available.
ADVERTISEMENTS
No articles available.
SATIRE
SATIRE: Question: What is this rabbit laughing hysterically about???
RETRACTION!!

Copyright © 2005 - 2010, Awareness Times Sierra Leone; All Rights Reserved.
Hosted & Designed by West Africa Dot Net