Ekati
Photo by: Dominion Diamond Corp
TORONTO (miningweekly.com) – Canadian miner Dominion Diamond Corp on Tuesday reported total sales of C$175.5-million from selling 841 000 ct from its Ekati and Diavik diamond mines, in Canada’s Northwest Territories, during the first quarter that ended on April 30.
The company sold 259 000 ct from its Ekati mine for C$92.8-million and 582 000 ct from the Diavik mine for a total of C$82.7-million.
Toronto-based Dominion added that it had also sold 100 000 ct, which were not included in total Ekati sales for the period, from the Misery south and south-west kimberlite pipes for C$6.9-million or an average $75/ct.
The company noted that production, sales and pricing all exceeded targets for the first quarter of the financial year, with production at current sales prices ahead of expectations by C$100-million.
Ekati's output during the first three months of 2014 was 24% off target at 561 000 ct, and from Diavik, output was 13% ahead of target at 1.84-million carats.
As at the end of the financial first quarter, the company's total inventory stood at C$285-million of which $65-million comprised discretionary inventory.
Dominion’s TSX-listed stock was on Tuesday on the rise, gaining 4.43%, or C$0.59 a share, to C$13.90 apiece.