RapNet


Rapaport News

 

Mining

 

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

Diamcor Loss Deepens in First Quarter

Lower revenue and average price hit miner’s figures.
Sep 2, 2018 8:53 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Diamcor saw its loss more than triple in the first fiscal quarter, as revenue slumped due to weaker production and a lower average price at its South Africa-based alluvial-mining operation.

The company reported a net loss of $1.8 million (CAD 2.3 million) in the three months ending June 30, as opposed to a loss of $510,315 (CAD 665,599) during the same period last year.

During the quarter, the average selling price dropped 34% to $148 per carat, with revenue consequently falling 92% to $148,438 (CAD 193,606). The company did not provide sales-volume or production figures from its South African asset.

Diamcor owns the Krone Endora at Venetia, which it bought from De Beers in 2008.
Tags: De Beers, diamcor, first quarter, krone endora, Rapaport News, venetia
Similar Articles
Akil Zubir AlrosaAlrosa Names New Belgium Chief
Sep 21, 2020
Alrosa has appointed Akil Zubir as managing director of its Belgium...
Dominion to Sell Ekati Mine for $126M
Petra Recovers High-Quality Blue Diamonds
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