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Diamond Rose mining venture banks on ancient prophecy

April 18, 1997

SYDNEY, Australia (AP) _ Funding a mining venture in hopes of fulfilling a religious prophecy, gemstone explorer Diamond Rose was listed Friday on the Australian Stock Exchange.

Diamond Rose executive director Pnina Feldman said her personal motivation was to find the 12 gemstones of the Hoshen, the breastplate described in the Bible that was said to be worn by the High Priest in the Temple of Jerusalem 3,000 years ago.

Feldman said the idea to find the gemstones was based on prophecies from the late New York Rabbi Schneerson, the Lubavitcher Rebbe.

Despite never having visited Australia, Rabbi Schneerson told the mining magnate Joseph Gutnick, Feldman’s brother, a decade ago that he would find gold in Western Australia.

Gutnick indeed made a fortune mining for gold after that in Australia.

Rebbe also said that the Hoshen stones were in Australia.

So Sydney-based Diamond Rose released a prospectus this year issuing 50 million shares in hopes of raising $7.8 million to fund exploration of sites believed to contain several of the Hoshen gemstones.

The prospectus said the venture has leases for 30 sites containing kimberlite and lamproite pipes, geologic formations that are indicative of gem stones.

The float was fully subscribed by Friday, mostly by 20 major shareholders.

Feldman, the wife and daughter of a rabbi and the mother of 11 children, predicted profits for the investors, saying the venture is ``truly blessed.″

``In my heart I’m as happy as ever because I’m convinced it’s a sign from the heavens,″ Feldman said.

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