Rockwell posts $321,000 profit in March-May quarter

For the three months March – May 2014, Rockwell Diamonds recorded $321,000 worth of profit, which was a positive development over the $1.1 million loss it encountered in the same period last year, reports say. Revenue rose 67 percent on y-o-y basis to $15.1 million, comprising $9.7 million from diamond sales and beneficiation income of $5.4 million (including the sale of a 109 carat polished vivid yellow diamond).

The company attributes the good results to ‘good work’ on behalf of Diamcor, which is its cutting and polishing joint venture partner, as well as the rise in diamond extraction rate.

Diamond production at the company’s diamond projects on South Africa's Middle Orange River, recorded a 19 percent increase in volume processed and 59 percent increase in grade improvement, and 89 percent rise in carats produced, reports say.