9 August 2017
For the three months ended June 30, 2017, the company reported a net income of $7.6 million or $0.05 per share. The company conducted two diamond sales during the quarter of which only the second sale, which took place in June, was reported in the statement of comprehensive income. The proceeds from the first sale in the quarter were credited against the mine construction costs as those diamonds sold were recovered prior to the mine declaring commercial production. Mining of overburden, waste rock and ore in the 5034 open pit for the six months ended June 30, 2017 was approximately 16.1 million tonnes. Ore mined in the first six months totalled 1,551,000 tonnes, with approximately 395,600 tonnes of ore stockpiled at period-end on a 100% basis. For the six months ended June 30, 2017, the Gahcho Kué Mine treated approximately 1,258,600 tonnes of ore through the process plant and recovered approximately 2,481,200 carats on a 100% basis for an average grade of approximately 1.97 carats/tonne. This recovered grade is approximately 20% above budget for the six months ended June 30, 2017. The company’s attributable share of diamond production for the three months ended June 30, 2017 was approximately 790,900 carats, and 1,215,800 carats for the six months ended June 30, 2017. Production in the second quarter was 86% higher than the first quarter, reflecting the achievement of commercial production effective March 1, 2017.