Dominion Diamond Corporation released financial and operating targets for 2018 fiscal year (ending January 31, 2018), including sales, Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), operating and capital costs, as well as performance indicators.
Sales of Dominion, is expected to be between $ 875 million to $ 975 million, up 62% over the 2017 fiscal year.
Adjusted EBITDA, is projected to be between $ 475 million to $ 560 million, reflecting the higher margin of production, combined with ongoing cost savings initiatives and efficiency improvements.
The cost of production, is expected to be at $ 70- $ 80 per ton of produced raw materials, and $ 35- $ 40 - per carat produced. The average selling price is expected to range from $ 70 to $ 90 per carat.
Capital expenditures for the development planned at the level of $ 115 - $ 140 million due to investments in production development. Stable capital expenditures, including capitalized stripping costs in the mining process, expected in the range of $ 160- $ 190 million.
Combined production at the mine Ekati (Ekati), in which the Company holds a 100 percent stake in 2018 fiscal year, and mine Diavik (Diavik), 40 -protsentnaya share of which has been at the company in 2017 calendar year is expected to amount to 9,1-10,0 million carats.
"We continue to implement our long-term strategic plan and achieve results. Our projected 2018 fiscal year, strong sales and adjusted earnings and EBITDA due to production with high priority kimberlite pipes Koala (Koala) and Misery Maine (Misery Main), while, as the Ekati enters the first full year in the implementation of the recovery plan, "- said dzhim Govans (Jim Gowans), chairman of the Dominion Diamond Corporation Board of Directors.
According to the company, the diamond market continues to recover from the effects of demonetization in India. Predictive planning for 2018 fiscal year provides for the sale of rough diamonds greater volume at lower costs, which were previously held by trading due to weak market conditions as a result of demonetization. It is expected that this will have an impact on the average price per carat as well as the physical volume of sales, it said in a statement Dominion.
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The association "Jewelers of America" (Jewelers of America, JA) organizes free educational seminars at the upcoming JA New York Show 13-14 of March. The exhibition, in the meantime, will be held on 13-15 March.
The main point of the seminar program will be the performance Nicole Laynbah Railay (Nicole Leinbach Reyhle), founder and publisher of the magazine Retail Minded, which is also co-founder of the Independent Conference retailers (Independent Retailer Conference), on "tips, tricks and techniques to improve the perception of the buyer of your store" ( tips, Tricks and Techniques to Maximize Your In-Store Experience).
JA educational program also includes two interactive seminar on March 13 which will present experts in the field of sales Mack Janice (Janice Mack) and Debbi Hiss (Debbie Hiss). Workshop participants will be able to share experiences and knowledge on the "search locations in wedding jewelry buyers" and learn the secrets of maintaining the existing customer base.
In addition to the aforementioned seminars, the organization of Jewelers for Children in conjunction with JA organizes charity event "Celebrate New York" in the framework of the exhibition. All funds received as part of the evening, go Jewelers for Children.
Among other things, during the JA New York Show participants March 13 will receive professional certificates in the area of sales and management.
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