16th Sep 2014 15:35
LONDON (Alliance News) - Golden Saint Resources Ltd Tuesday said it has entered into a memorandum of understanding with Parikh Brothers in Mumbai to process, cut and polish its rough diamonds.
The memorandum includes assistance for the resale of the rough and polished diamonds where necessary, with processing of each shipment being completed within 90 days unless otherwise agreed, said Golden Saint.
Parikh Brothers has state of the art machinery with the latest technology in diamond cutting and polishing and has the expertise to cut and polish diamonds of all shapes and sizes in the ideal cut grade standards of the Gemological Institute of America, said Golden Saint.
Gemological Institute of America is a nonprofit institute that provides standards and education in gems and jewelry, according to its website.
Golden Saint's shares closed down 6.5% to 2.15 pence per share Tuesday.
By Joshua Warner; [email protected]; @JoshAlliance
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