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Rockwell Diamonds Returns to Profit in Q2
Oct. 14, 2011 02:20PM PST
Gem InvestingMining Weekly reported Rockwell Diamonds (TSE:RDI) has closed the second quarter with a net profit of C$2-million.
Mining Weekly reported Rockwell Diamonds (TSE:RDI) has closed the second quarter with a net profit of C$2-million.
As quoted in the market news,
This compares with a loss of C$1.2-million in the same quarter last year.
Campbell said the profit was achieved on the back of revenue of C$9.2-million, underpinned by the average diamond price doubling to $2 186/ct. Efforts to optimise operations had also been successful, resulting in mine site operating costs being reduced by 18% to C$5.1-million, to reach an average cost of C$10.5/m3 of earth mined.