Stornoway Diamond Corporation announced earnings and operating results for the fourth quarter and year ended December 31, 2018. For the quarter, the company reported revenue of CAD 23,271,000 as compared to CAD 55,483,000 a year ago. Net loss was CAD 244,863,000 as compared CAD 118,446,000 for the same period last year. Basic loss per share was CAD 0.29 as compared to CAD 0.14 a year ago.

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.