Rockwell Diamonds Inc. announced consolidated earnings and operating results for the second quarter ended August 31, 2016. For the quarter, the company reported total revenue was CAD 13.4 million against CAD 21 million a year ago, reflecting the benefit of beneficiation proceeds received in the current quarter. Cash generated from operations was CAD 3.2 million against CAD 3.6 million a year ago. Loss attributable to owners of the parent was CAD 0.6 million against CAD 1.2 million a year ago, reflecting the drop in volumes and grades, as well as the impact of less favourable pricing or trading, and the impact of exchange rates on profitability.

For the quarter, the company reported average price per carat sold was USD 1,560 against USD 1,791 a year ago. MOR total production cost /m3 was USD 12.8 against USD 14.05 a year ago. Volumes processed at Rockwell's MOR operations during the quarter were down 8% year-on-year at 0.76 million m3 against 0.82 million m3 in the second quarter of last year, due to the planned scaling down of operations at Saxendrift. MOR volumes mined were up 2% year-on-year at 0.85 million m3 against 0.83 million m3 in the second quarter of last year.