News

Advanced Search

Diamcor Loss Deepens in First Quarter

Sep 2, 2018 8:53 AM   By Rapaport News
Comment Comment Email Email 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
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.