Stornoway Diamond Corporation Announces Earnings and Operating Results for the Fourth Quarter and Year Ended December 31, 2018; Reports Impairment Charge for the Fourth Quarter Ended December 31, 2018
For the year, the company reported revenue of CAD 165,487,000 as compared to CAD 196,502,000 a year ago. Net loss was CAD 329,352,000 as compared to CAD 114,220,000 for the same period last year. Basic loss per share was CAD 0.39 as compared to 0.14 a year ago.
For the quarter, the company reported ore mined of 706,066 tonnes compared to 490,237 tonnes a year ago. Underground development was 1,365 meters compared to 1,227 meters a year ago.
For the year, the company reported ore mined of 2,115,522 tonnes compared to 2,228,273 a year ago. Underground development was 4,585 meters compared to 4,871 meters a year ago.
For the quarter, the company reported impairment of CAD 83,197,000 as compared to CAD 171,000,000 a year ago.