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Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) released its results for the fourth quarter of 2016, which covers the period from November through January. It also released its financial results for the full 2016 year.
Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) released its results for the fourth quarter of 2016, which covers the period from November through January. It also released its financial results for the full 2016 year.
Highlights are as follows:
Brendan Bell, CEO of Dominion Diamond, commented:
As anticipated during this transition period in the Ekati mine plan, gross margins are lower as a result of a change in the ore mix with more production coming from lower value sources prior to the higher grade Misery Main pipe coming on line in the second half of this fiscal year. Misery Main development remains on schedule and will provide significant cash flow. We are encouraged by the recent rebound in diamond prices.
Click here to read the full Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) press release.