Rockwell Diamonds Returns to Profit in Q2

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.

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