Operator Namibian Minerals (NMR-T) produced 30,300 carats of alluvial diamonds from the Luderitz Bay concession in its latest quarter, ended Aug. 31, up from the 25,900 carats produced in the previous quarter.
The average stone size recovered from the offshore concession in Namibia was 0.39 carat, compared with 0.36 carat in the previous quarter.
On the financial front, the company reported that sales in the quarter generated US$4.8 million, compared with US$900,000 in the previous quarter. The average sale price per carat was US$164, compared with US$179 per carat in the previous quarter. The lower price was attributed to general weakness in the diamond market and global economic factors. In the past five months, Namibian Minerals (or Namco) has produced more than 56,000 carats from Luderitz Bay, which places the company on track to recover 150,000 carats per year.
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