Diamond Fields International has filed its third quarter report on SEDAR for the period ending March 31, 2003.
Net loss for the three months ended March 31, 2003, was $141,721, compared with income of $44,403 for the same period in 2002.
Highlights for the quarter are:
The company’s operations yielded over 8,700 carats. The production resulted in an operating profit of $144,899. Three days after the quarter, on April 3, 2003, the company completed the sale of 4,333 carats for total proceeds of $639,812.
The board of directors and management have succeeded in reducing general and administrative expenses, which have decreased by $193,487 compared to the same period in 2002.
During the three months ended March 31, 2003, the company completed two diamond sales generating $940,601 in revenue. A total of 6,747 carats was sold at an average price of $139.41 per carat. These diamonds were recovered through contract mining operations with Gemfarm Investments (Pty) Ltd.
