Financial News
DE BEERS’ SALES GO WAY UP IN 9TH CYCLE OF THE YEAR
De Beers sold $390 million this time around
18.11.2019
STORNOWAY’S Q2 RESULTS HURT BY FALLING ROUGH PRICES
Stornoway achieved $76 per carat for all goods sold - a fall of 9% year-on-year
Stornoway Diamond Corporation has reported its financial and operating results for the 2nd quarter of 2019 (ended June 30, 2019), showing a net loss of $346.3 million (compared to a net loss of $35.9 million in Q2 2018). According to Rough & Polished, the loss “was principally driven by decreasing prices of rough diamonds.
However , the miner’s adjusted EBITDA (Earnings before interest, taxes, depreciation, and amortization) stood at $13.1 million – significantly more than Q2 2018 adjusted EBITDA of $1.6 million.
Stornoway completed two tender sales in the second quarter for a total of 460,832 carats sold, achieving $76 per carat for all goods sold – a fall of 9% year-on-year and “attributable to weak market conditions which management believes are driven primarily from the oversupply of rough diamonds relative to demand, the high inventory levels in the mid stream and the reduced availability of bank financing”.
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ALROSA’S Q3 REVENUE DROPS, OPTIMISTIC ABOUT SUPPLY-DEMAND BALANCE
Year-over-year, revenue dropped 35% while sales dropped 5%13.11.2019 - Financial News
“SUBDUED” MARKET HURTS FIRESTONE’S DIAMONDS SALES
Firestone sold 168,612 carats for $10.6 million - an average of $63 per carat29.10.2019 - Financial News
PETRA PRODUCES MORE BUT SELLS LESS DIAMONDS IN Q1 FY2020
Revenue was down 23% quarter-on-quarter to $61.6 million28.10.2019 - Financial News
LUCAPA MAKES $10.4 MILLION FROM DIAMONDS IN LATEST SALE
Combined 2019 sales to date from Lulo and Mothae have reached $45.9 million17.10.2019 - Financial News
ALROSA SELLS $258.7 MILLION WORTH OF DIAMONDS IN SEPTEMBER
The miner’s diamond sales in January-September 2019 totaled $2.422 billion15.10.2019
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DE BEERS SELLS $520 OF ROUGH IN 4TH CYCLE
According to CEO Bruce Cleaver, demand for rough continues to be steady17.05.2017 - Financial News
FANCY PINK DIAMOND SHATTERS AUCTION RECORD AT BONHAMS
A fancy pink diamond weighing 5.03 carats raked in in $583,551 per carat30.09.2018 - Financial News
ALROSA’S NINE MONTHS PROFIT SLASHED BY ALMOST HALF
The slash in profits is due to an appreciation of the ruble and a decrease in diamond prices19.11.2017