Diamcor Sales Rise, Loss Drops in 3Q

RAPAPORT... Diamcor saw a significant sales jump in the third fiscal quarter asproduction increased at its mine in South Africa. Revenue surged 76% to $1.4 million in the three monthsending December 31 2018, compared to $864,546 in the same period in 2017, the minerreported Friday. The company recorded a net loss of CAD 861,883 ($648,222) - down from a deficit of CAD 1.1 million ($825,364) a year earlier - after lowering the cost of its operating activities. Those improvements came despite a 2.5% drop in the average selling pricefor rough from Diamcor'sKrone-Endora at Venetia mine. The diamonds sold for an average of $194 per carat, versus $199 per caratthe year before. Revenue for the first nine months of the year fell 40% toCAD 3.1 million ($2.3 million), while the net loss for that period remained flat. Image: Rough diamonds. (Diamcor Mining)