Rockwell Diamonds Revenue fell 39%, to 10.4 million Canadian dollars in the fourth quarter of fiscal year 2016 against 17.1 million Canadian dollars a year earlier.
The fall was due to the fact that the products with the diamond mines Tirizano (Tirisano) in South Africa was excluded from the performance of the company in connection with the sale of the project. Moreover, the cost of diamonds with Saksendrift (Saxendrift) has fallen due to the close end of the life cycle of the mine.
"This quarter, closing the year that Rockwell has changed its basic setting, reducing costs by selling non-core asset Tirizano, completing the process of closing NJK, bringing Saksendrift the end of the life cycle, as well as having received two new ready-made mines and one under construction," - said General Director Rockwell Dzheyms Kempbell (James Campbell).
"As a result of the closure of NJK, falling indices Saksendrift and due to lower productivity production at RHC, our working capital is affected. Due to a more favorable mechanism for debt repayment when buying RHC our liquidity will improve, which will allow us to invest in exploration and development projects in the coming months ", - he added.
Campbell also said that the construction of the mine Vouterspen (Wouterspan) and additional screening equipment RHC will allow the company to improve its own production capacity and to remove all remaining shortcomings and difficulties.
"Although we have not yet managed to achieve the strategic goal of processing 500,000 cubic meters of rock per month on our operations in Central River region of Orange in South Africa, before the end of 2017 fiscal year, we will probably be able to process 350,000 cubic meters of rock per month", - he believes Campbell.
At the same time, the head of Rockwell said that the diamond market is beginning to show signs of recovery through a combination of restructuring in the middle segment and a limited supply.
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DiamondCorp has received more than $ 1.5 million from the sale of 8648 carats diamond mine Lace (Lace) in South Africa.
Company sold stones as through direct sales and through a tender. Thus, the diamonds from the mine Leis for the first time since 1931, re-entered the market.
As noted in the company, the size of 6247 carats of diamonds were more than 1.25 mm in diameter. The company has received the stones from the development and increase of production at Lace.
"The quality of these diamonds speaks about the technical equipment of the mine at the moment Their price was $ 1.09 million, or about $ 175 per carat.", - said in a statement.
"We are extremely pleased with the interest that customers have shown in diamonds mined in the Lace and prices for diamonds of all sizes," - said CEO Pol Laudon (Paul Loudon).
"The mood of the participants of the diamond market remain relatively positive compared to 2015 year-end price growth since January continued.", - he added.
However, in DiamondCorp noted that underground diamond mining and mine development continued in January, and the company intends to achieve the increase in production to 30 000 tonnes of rock per month by July this year.
Processing and kimberlite tailings from the underground mine also continued.
In the first three months of 2016 the mine Leis was produced 6324 tons of ore with K4 site with an average grade of diamonds of 36 carats per hundred tons of rock, as well as 8327 tons of kimberlite from the site K6, resulting in the development of the ventilation tunnel with content 8 carats per tonne. Moreover, the company processed 18,307 tons of rock dumps with medium containing 5 carats per hundred tons of ore. During the first quarter of 2016 by 3438 carats of diamonds were mined.
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