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Sarine technologies leveraging AI for LGD Grading  Recently Sarine Technologies Ltd presented their Review of FY2023 and said, “FY2023 A Challenging Year!” Further Sarine said, in any new equilibrium for the diamond industry, LGD are expected to account for a meaningful portion of the diamond jewellery market.  To adequately address this segment, we have adopted Gem Certification & Assurance Lab (GCAL)’s work procedures, and our LGD-focused GCAL by Sarine grading lab in India commenced operations in January this year.  Adaptation of our AI-derived grading technologies to LGD will enable further expansion of this service. We aim to attain an 8-10% share of the estimated US$ 100 million LGD grading segment in FY2024.  This month, we launched the utilisation of our industry-leading rough planning technologies on LGD on a pay-per-carat service basis. Initial responses have been positive with recurring revenue already being generated.  Additional LGD manufacturer...

Rough diamond sales continue to recover!   Sarine Technologies Ltd, a worldwide leader in the development, manufacture and sale of precision technology products for the evaluation, planning, processing, finishing, grading and trading of diamonds and gems, wishes to update its investing public on improving results in the Group's businesses.   In continuation to our update to the public dated 01 September 2020 on improving conditions overall in the diamond industry value chain, we are pleased to report that the trend noted in said update has continued and even gained momentum. Indeed, the preliminary sales figure for De Beers Cycle 7 rough diamond sales in August, then noted as US$ 287 million, has been revised upward to the final figure of US$ 320 million. Furthermore, the preliminary figure for De Beers Cycle 8 rough diamond sales in October stands at US$ 467 million. Other major producers' sales of rough diamonds have increased commensurately. Rough prices at these two cy...

Sarine Diamond Journey Japan! Sarine Technologies announces that New Art Cima Ltd. is introducing the Sarine Diamond Journey as a centrepiece of its new marketing campaign and consumer experience. The Sarine Diamond Journey focuses on the story of the diamond from its origin and rough structure until its final polished form. The provided graphic and video depictions provide today's consumers with a unique experience and the full transparency they seek from a respected brand in an intuitive format. The diamond's actual transition through its various stages of cutting, shaping and polishing is chronicled with actual visual imagery captured throughout the manufacturing process by Sarine's cutting edge systems. Sarine's provenance offering is unique in that only it is able to accurately and efficiently provide true high-quality information directly derived from the actual technology utilised during the various processes involved in the manufacture of the mo...

Yet recurring revenues remained under 50% of 9M revenue! Sarine announced its financial results for the third quarter and nine months ended 30 September 2018. According to the review, as in prior years, demand for capital equipment by diamond manufacturers slowed in Q3.   In addition to this cyclicality, industry sentiments in Q3 2018 were affected by a number of macroeconomic factors, including uncertainties surrounding the impact of trade tariffs on China, credit tightening by Indian banks, increased volatility in foreign exchange rates and uncertainties relating to the long-term effects of the advent of lab-grown diamonds (LGD) into the market. Incidentally, the Group's Q3 2018 results announcement released on 11 November 2018 to the Singapore Exchange discusses this issue at length. It was against this background of challenges that the Group recorded 4% increase in revenue to US$11.7 million in Q3 2018. The improvement was mainly driven by recurring revenu...