Key points
- Net loss for the three months ended March 31, 2003 was $141,721, compared with income of $44,403 in the same period of 2002.
- Operations yielded over 8,700 carats, producing an operating profit of $144,899.
- On April 3, 2003, three days after quarter end, the company sold 4,333 carats for total proceeds of $639,812.
- During the quarter the company completed two diamond sales generating $940,601 in revenue, selling 6,747 carats at an average price of $139.41 per carat through contract mining with Gemfarm Investments (Pty) Ltd.
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.
