Toronto-based Rex Diamonds (REXD-C) is about to list its shares on the Toronto Stock Exchange, having increased revenue and reduced its losses in the second quarter.
The diamond producer says the TSE has conditionally approved the listing, subject to fulfilment of remaining regulatory requirements.
The junior reported a loss of $99,924 on revenue of $2.4 million for the three months ended June 30, compared with a loss of $351,066 on $2.3 million for the same period in 1995.
In the first quarter of 1996, Rex spent US$4 million on development and ended the period with US$4.4 million in its treasury.
The company is proceeding with fissure development on levels 11, 12 and 13 at the wholly owned Bellsbank mine near Kimberley, South Africa, and is testing the tailings dump at the southern extension of the mine.
Full production from the newly developed levels is expected in the fourth quarter.
Be the first to comment on "DIAMOND PAGE — Rex Diamonds to list on TSE"