Lucapa also noted that the diamond content in the rock jumped 88%, to 10.6 carats per 100 cubic meters during the period under review, compared to 5.6 carats per 100 cubic meters in the same period of the previous year. Meanwhile, the average diamond size increased by 46%, to 1.9 carats, compared to 1.3 carats a year earlier.
Total production increased by 136% in 2016 to 19 833 carats, compared to 8394 carats in 2015.
The company also announced that during the fourth quarter, managed to get 79 special stones compared with 28 diamonds in the same period a year earlier.
At the same time, SML received $ 51 million from the sale of diamonds in 2016, more than four times more compared to the previous year, with an average price per carat of $ 2983. According to the Lucapa are, the highest price per carat achieved for any operating mine in the world in 2016.
SML cash balance was $ 14.1 million, and the company was 2921 carats of diamonds in the effluent.
SML also received a large and very expensive diamonds sizes up to 404 carats.
Lucapa and its partners to develop Lulo project stepped up drilling program to define the primary kimberlite source of these exceptional alluvial diamonds.
In addition, Lucapa are conducting exploration programs on two other projects: "Zone F" (Area F) field Orapa (Orapa) in Botswana, as well as Brooking (Brooking) in the province of Kimberley in Western Australia.
Both projects are considered prospective for the discovery of diamond deposits.
http://www.feedlisting.com/rss-feed-url/898214.html
1 comment:
The Dominion Diamond Corporation, a Canadian diamond mining company, reported a fall in net profit in the third quarter of fiscal 2016 to $ 4.1 million compared to $ 25.5 million in the third quarter a year earlier, due to the sharp fall in the average price per carat of diamonds. Sales from the mine Ekati (Ekati) decreased by 38%, to $ 88.2 million.
Meanwhile, revenues for the third quarter of 2016 fiscal year amounted to $ 145 million. For the nine months ended in October 2015, Dominion revenue from diamond sales of $ 542, 4 million, compared to $ 675.2 million in the same period last year.
Diamond sales were limited by difficult market conditions, as well as the fall of the diamond processing level, noted in the Dominion. At its August auction company lowered the price of their diamonds.
The company said that as of October 31, 2015 in its reserves are about 1.9 million carats of diamonds ready for sale, the market value of approximately $ 155 million. In addition, 0.9 million carats soon will be ready for sale work is ongoing on these stones.
The company's gross profit declined 23 percentage points to 11%.
In accordance with the company's plans for the Ekati mine, on the amount of gross profit impacted by lower diamond content in the rock extracted from the poorer section of the mine, so that in the next fiscal year, the company could begin production on the tube Misery-Maine (Misery Main), on which contains more valuable diamonds.
Commenting on the findings, Brendan Bell (Brendan Bell), CEO of Dominion, said: "We are pleased to report that we were able to get a positive free cash flow and positive earnings in difficult conditions in the diamond market Soon after the transition period on the Ekati mine is complete.. Our company has a strong balance sheet. Production at Maine Misery-start in accordance with the budget and with our expectations at the beginning of next year. "
Post a Comment