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Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) announced its results for the first fiscal quarter of 2016, commenting that its sales came to US$187.7 million, up from $175.5 million during the year-ago period.
Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) announced its results for the first fiscal quarter of 2016, commenting that its sales came to US$187.7 million, up from $175.5 million during the year-ago period.
Other highlights include:
- The planned drilling programmes at the Sable and Jay pipes have been successfully completed and evaluation is underway with Sable results expected in the third quarter, followed by Jay.
- The Company retains a strong balance sheet, has initiated a regular dividend, and is well positioned to provide the substantial capital needed for the development of Misery Main, Lynx, Pigeon, A-21 and Jay.
- The Company was very pleased with the successful and well attended launch of the CanadaMark business-to-business trading platform at the recent JCK show in Las Vegas.
Brendan Bell, acting CEO of Dominion, commented:
Despite a slightly weaker market to start the year, our first quarter sales remained robust. However margins reflect the fact that as forecast, fiscal 2016 is a transitional year for the Ekati Diamond Mine, with a lower value ore mix processed until the rich Misery main pipe comes on-stream in early calendar 2016.
Click here to read the full Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) press release.