Diamcor Mining reports that revenue has dropped 37 per cent year on year to $886,343 CAD during its third fiscal quarter, which ended on December 31, 2014. According to the diamond mining company, the drop is a result of the sale of a 91.70-carat diamond for $817,920 in the third quarter a year ago.
Diamcor says that the amount of rough diamonds sold dropped 10 per cent to 3,579 carats at an average price of $222 per carat. The company also reports a net loss of $643,753 CAD for the quarter, compared with net income of $97,546 a year ago.
During the quarter, Diamcor tried to raise funds for its planned expansion of the Krone-Endora at Venetia project by closing a $3.1 million CAD brokered and non-brokered private share placement. CJ
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
