British-based Namco (nmr-t) incurred a loss of just over
$3 million for the year ended May 31, 1997.
The company continued development of its sea-floor diamond project off the coast of Namibia, which is on schedule for startup in the fourth quarter of 1997. Namco expects to produce 150,000 carats per year.
The company recently raised US$15 million by issuing 3.9 mil- lion shares.
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