JOHANNESBURG (miningweekly.com) – TSX- and JSE-listed Rockwell Diamonds on Monday reported second-quarter revenue of $6.8-million, which was less than a year earlier, but an improvement on its first-quarter revenue.
The diamond company earned revenues of $7-million in the second quarter of the 2012 financial year and $5.9-million in the first quarter of the 2013 financial year, said CEO James Campbell.
Rockwell produced 5 147 ct during the quarter, up from the 3 223 ct in the second quarter the year before, at an average price of $1 322/ct, compared with $2 186/ct for the same period in the 2012 financial year.
Campbell commented that rough and polished diamond prices corrected to more realistic levels during the quarter under review, and said that market activity was much healthier, compared to the same period in 2011 where trading was muted.
“We believe that the overall market fundamentals are more positive than they have been since 2008, which will be beneficial for diamond prices,” he said.
Meanwhile, Rockwell reported continued recovery of large stones across all its operations during the second quarter with the recovery of 50 stones exceeding 10 ct.
The Saxendrift operations produced 11 stones larger than 10 ct and another four stones exceeding 20 ct, including a 96.56 ct fancy yellow clean sawable rough diamond.
The Jasper operations recovered 18 stones exceeding 10 ct, with seven stones exceeding 20 ct, including a 60.15 ct mackle and a clean 70.55 ct white, makeable rough diamond.
Klipdam produced 20 stones exceeding 10 ct, including three stones exceeding 20 ct.