Rockwell Diamonds’ Revenue Increases by 31 Percent

Rockwell Diamonds Inc. (TSX:RDI) announced that its revenue from diamond sales — excluding contractors and before beneficiation sales — increased by 31 percent for the first fiscal quarter of 2014 compared to the year-ago period.

As quoted in the press release:

This increase over the same quarter last year occurs even though the Company placed its Tirisano mine onto care and maintenance late in 2012 and sold its Klipdam mine early in the quarter.

As a result of sales of high quality diamonds, Rockwell’s flagship Saxendrift mine achieved a 48% year-on-year increase in average price per carat received, with the value of sales up 56% year-on-year in the first quarter. In addition, the first diamond sales from the newly-commissioned Saxendrift Hill Complex were recorded, at an average price per carat of US$3,668 from the sale of 130 carats. Royalties in the first quarter to the Company totalled $134,749 on diamond sales by the three royalty mining contracts at Tirisano on revenue of $1.1 million.

Click here to read the full Rockwell Diamonds Inc. (TSX:RDI) press release.