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Doubling Rough Diamond Prices, Lower Costs, Pull Rockwell Back to Profit
Oct. 17, 2011 01:05PM PST
Gem InvestingIDEX reported Rockwell Diamonds’ (TSX:RDI) revenues have declined in the second quarter due to shrinking production.
IDEX reported Rockwell Diamonds’ (TSX:RDI) revenues have declined in the second quarter due to shrinking production.
As quoted in the market news,
However a doubling in the achieved average diamond price and a sharp cut in costs helped the company end the second quarter with a $2.0 million profit.The South Africa-based diamond miner posted revenue of $9.2 million, compared with revenue of $11.4 million in the prior year.