RapNet


Rapaport News

 

Mining

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Diamcor Sales Rise, Loss Drops in 3Q

Revenue up 76% year on year.
Mar 3, 2019 9:17 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
 Diamcor saw a significant sales jump in the third fiscal quarter as production increased at its mine in South Africa.

Revenue surged 76% to $1.4 million in the three months ending December 31 2018, compared to $864,546 in the same period in 2017, the miner reported Friday. The company recorded a net loss of CAD 861,883 ($648,222) — down from a deficit of CAD 1.1 million ($825,364) a year earlier — after lowering the cost of its operating activities.

Those improvements came despite a 2.5% drop in the average selling price for rough from Diamcor’s Krone-Endora at Venetia mine. The diamonds sold for an average of $194 per carat, versus $199 per carat the year before.

Revenue for the first nine months of the year fell 40% to CAD 3.1 million ($2.3 million), while the net loss for that period remained flat.

Image: Rough diamonds. (Diamcor Mining)
Tags: diamcor, Krone-Endora at Venetia, Rapaport News, South Africa
Similar Articles
AlrosaAlrosa Sales Decline at Slower Rate
Oct 15, 2019
Alrosa’s sales fell 24% year on year to $258.7 million inSeptember,...
Alrosa Finds Diamond Inside a Diamond
Lesotho Renews Letšeng Lease
US Bans Import of Zimbabwe Diamonds
BDBIndia’s Polished Trade Declines
Oct 03, 2019
India’s polished-diamond exports fell 25% to $1.64 billion inAugust, data...
Mining for information
De Beers Hires New Auctions Exec
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us