Rockwell Diamonds Cuts Its Losses to 400K

Rockwell Diamonds announced that even after increase in quarterly revenue, it experienced a fiscal loss, but that this was still a huge improvement over last year's Q3, when it lost millions of dollars, Mining Weekly reports. The diamond company's revenues from September to November 2013 were nearly $12 million, representing a 35% year-over-year increase. Those revenues amounted to negative profit of $400,000, but that economic loss equaled less than a tenth of the loss it experienced in 2012 Q3, which was $4.7 million.

Most of the firm's revenues resulted from the sales of rough diamonds, while approximately $600,000 were the result of beneficiation operations. Rockwell chief executive officer James Campbell noted that this past quarter was the sixth in a row in which revenues increased, according to Mining Weekly. He noted, too, that in the past year, the firm's three mines have had their production volumes increased by 65% and as a result, the quantity of carats recovered has doubled.

http://www.israelidiamond.co.il/english/News.aspx?boneID=918&objID=13959