DiamondCorp reported that for the six months to June 30, 2016 its losses were reduced to £ 247,221 against £ 3,159 million in the same period a year earlier.
This reduction in losses in the company partly attributed to the strengthening of the rand.
However, the administrative expenses of the company during the reporting period increased to £ 893,000 against £ 672,000 in 2016.
Their increase, as noted in DiamondCorp, due to changes in the timing of the audit, as well as additional administrative costs because the transition from the development of the diamond project Lace (Lace) for production.
As of June 30, DiamondCorp had cash in the amount of £ 108,000, but then she got more £ 2 million through the issuance of shares.
As noted in the company, is now carried on the project processing ore with high content of diamond with K4 portion.
Independent geological consulting firm MPH Consulting monitors extracted kimberlite.
"It is important to conclude MPH that comparison of kimberlite mined in August, showed that the content of diamond in the rock of the geological model. Now we are sure that it is not confronted with a significant body of kimberlite low-diamond blocks are to be developed, but which are not yet included in the geological model, "- say in DiamondCorp.
"In August, high-quality diamonds have been mined, and the weight of the four stones greater than 10 carats. The weight of one of these diamonds was 12.7 card. These stones will be offered for sale in October."
Forecast DiamondCorp of breed production volume has been changed. So, in September, it is planned to extract 20 000 tons of ore in October - 25 thousand tons, and in November and December - 30, 000 tons. The revaluation was performed due to problems encountered in the build-up of production volumes.
Current stock of the company is estimated at 7,003 carats.
https://pearlgiftjewelry.blogspot.ca/
1 comment:
In Murowa Diamonds reported that the company plans to increase production of diamonds, rather than close its operations in Zimbabwe. Earlier, market analysts assumed that the company could cease operations after the release of Zimbabwe's Rio Tinto, which controlled 78% of the shares in the kimberlite mine.
RioZim, which controls a 22% stake in Murowa, told its shareholders last month that, although no official statements were made, the mine was actually mothballed in the first quarter of this year.
"We at Murowa Diamonds are going to manage our company even better than before," Lovemore Chihota, president of Chronicles, quotes Chronicles as saying, "We must continue to work to improve the well-being of our people."
The extraction of Murowa diamonds in the first half of the year was 99,000 carats compared to 196,000 carats a year earlier.
Meanwhile, the Chihota could not explain how the company intends to increase production, taking into account the plans of Harare's official consolidation of diamond companies in the country.
The government of Zimbabwe recently stated that it had successfully registered a new diamond company that would have absorbed all existing diamond producers in the country, including Murowa.
Authorities reported that Murowa agreed to consolidation, although some companies are reported to have resisted these measures by the authorities.
It is reported that the authorities are forcing Zimbabwe's diamond miners to join the consolidated company. Last week, they reported that all licenses for diamond mining in Marange had expired.
Post a Comment