Sean Simms
Halifax, NS (CAN)
Role(s):
Founder/Owner/Principal
Simms Diamonds
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Startup
Location:
Halifax
Industry:
Wholesale
Year Founded:
2011
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Sole Proprietorship
Description:
I am developing a business to buy rough diamonds from a variety of sources (Miners in South America, DTC sightholders, Rapnet, Diamond tenders etc.) to assure the best price and quality of stones. The stones will then be cut and polished here in Canada by a company who has worked on the Premier (baby) rose diamonds and also two of the largest diamonds cut in Canada to date. Once the diamonds are cut and polished they then will be put up for tender at the Canadian Diamond Bourse, as well they will be marketed and sold to local jewelry stores in Atlantic Canada that I have already spoke too. All stones will be GIA certified.
I am awaiting membership into the Panama Diamond Exchange which will open a whole new supply of diamonds from Guyana and Brazil. I am also in talks with a diamond mining company in Guyana to purchase their stones directly for a small premium over their actually value.
The 12 month goal is to open up a buying office in Guyana and Brazil.
I have in place someone who is experienced in grading and sorting rough diamonds who will be assisting in the buying of all rough stones, to make sure the stones are of top gem quality. Also he will be assisting in the importing of the rough into Canada (making sure there are KPC, packaging is correct)
I am looking for 40 - 50k dollars which will be used to purchase a Sarin DiaMobile XL machine and the Adviser software. The rest will be used to buy rough diamond parcels.
Since we are able to manufacture polished diamonds at a low cost we are able to get rid of our inventory on short notice at cost if need be in case the investor needs their funds back.
Would return original investment within 6 months and then the value of the original investment again in another 6 months (100% in a 12 month period). We can also arrange it over a monthly basis if you prefer.