In a world where transparency is more and more the standard, our business must address the lab grading issue willingly

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Vallabhbhai Shamjibhai Patel tells about the ongoing construction of the Surat Diamond Bourse

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18 june 2018

The strategy of regulating the Russian jewellery industry

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Our first priority is to better understand artisanal and small-scale mining - Elodie Daguzan

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01 june 2018

Stornoway earns $48M from diamond sales during Q3

13 november 2017
Stornoway Diamond Corporation has announced that its diamond sales in the third quarter of 2017 amounted to $48.1 million, or 405,643 carats sold.
The average diamond prices achieved were $95 (CAD$119) per carat compared to $87 per carat in the second quarter and $81 in the first quarter.
The company also said it has produced 442,154 carats of diamonds at 87 carats per hundred tonnes during the period under review from its wholly-owned Renard project in Canada. Operating costs at the project amounted to CAD$66.39 per carat.
"Strong production results in the third quarter were matched by continued good performance in cost management. Our average operating cost of CAD$66.39 per carat compares favourably with an average sales price of CAD$119 per carat, with a beat on carats produced and grade over our mine plan. This strong underlying operating result in our business is being achieved even as we continue our work to improve the quality of our diamond recoveries," said Matt Manson, Stornoway president and CEO.
"Our pricing at sale is increasing quarter by quarter, although a correction at the end of the third quarter served to slow the rate of increase, and we foresee a flat outlook for the rest of the year.”
At quarter end, cash, cash equivalents and short-term investments of Stornoway stood at $52.6 million.

Theodor Lisovoy, Rough&Polished, Moscow


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