Rapaport News



Rapaport Broadcast
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

Advanced search
Latest Articles
Rough Markets
Polished Markets

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
rough diamond in fingers Diamcor 150Diamcor Shifts Back into Black
Nov 19, 2019
Diamcor Mining returned to profit in the second fiscalquarter, as an efficiency program...
Zimbabwe to Take Smaller Cut of Diamond Sales
Rio Tinto Seeks Majority Stake in Canada Site
Petra Sells 20ct. Blue Diamond for $15M
AlrosaAlrosa Profit Drops in Third Quarter
Nov 10, 2019
Weak rough-diamond demand led to a decline in profit at Alrosa in the third...
Mountain Province Slides to Net Loss
Gem Diamonds Lowers Full-Year Outlook
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