Chabad is furious that Shefa Yamim Exploration and Mining, which is searching for diamonds near Haifa, has been using the name of the Lubavitcher Rebbe to promote its business.
“The Rebbe never said there are diamonds near Haifa,” the organization stated: “This is just how one businessman interprets things he once said.”
In fact, Shefa Yamim was founded based on a conversation between the Rebbe and the mayor of Haifa, Arie Gurel, in 1998. During their chat, the Rebbe remarked that gems abound in the area. Whether or not the Rebbe was speaking metaphorically, the conversation was recently disclosed in a presentation to investors.
In recent days, Shefa Yamim stock has been bouncing around like a gazelle on acid after the company announced finding a 5.72-carat sapphire last week. Over four trading days the stock rose 120%, then in one day it lost 40% and on Sunday it gained 17%.
Shefa Yamim, which is managed by Avraham Taub, was founded based on the conversation between the Rebbe and Mayor Gurel: “In Haifa, there is a sea. One shouldn’t become intimidated by something that is deep. This is the uniqueness of Haifa – that it has a sea and that there is a valley and in the valley are precious stones and gems. The Holy One, Blessed Be He, did a wondrous thing; He concealed them in the depths of the earth, and in any case, in the depth of the river….”
The conversation, which is quoted by the company’s executives and which was transcribed onto the company’s website, was also published recently in a computer presentation for investors.
Read more here.