In the media

DiamondCorp net losses narrow

13 May 2013


DiamondCorp posts net losses of £3,534,940 for the year to the end of December - down from £4,239,146 for 2011.

The company said it has received a further $6m in term loan funds received from Tiffany & Co subsidiary Laurelton Diamonds since the year end and progress on box cut and ramp development was on schedule and within budget.

Chairman Euan Worthington and chief executive Paul Loudon said: "In our statement a year ago, we wrote about the good and bad luck that had come our way.

"This roller-coaster theme continued in 2012 but thanks to everyone's perseverance, enthusiasm and support, we are now on the way to developing the 47 Level block cave at Lace.

"Once established, this should provide production for at least the next seven years, while subsequent block caves planned for the 670 and 850m levels will allow us to access the currently defined mine resource of 13.3 million carats over the next 25 years. With the pipe open at depth, Lace should operate for longer than this."

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