On the supply side there are structural constraints that will limit the production of rare pink diamonds and contribute to a widening demand overhang.

These include:

A steadily declining mineral reserve base, compounded by limited exploration success and relatively high barriers to entry.

The chances of any future mine discovery replicating the unique properties of the Argyle Diamond Mine are extremely low.

Currently there are no other consistent sources of pink diamonds, and even if another deposit of pink diamond-bearing ore is discovered, it would take on average 10 years for a mine to proceed from discovery to production.

Inventories of diamonds are at historically low levels globally.

Unlike for white diamonds, there is no list price that determines the value of a pink diamond. Each pink diamond is uniquely different and cannot be commoditized. As with rare fine art, set rules do not apply.

What can be said however is that Argyle Pink Diamonds Tender stones have appreciated steadily over the past decade. This is a reflection of the fundamental economics of pink diamonds and the increasing demand for a truly scarce product.