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BRIEF-Stornoway Q3 Loss Per Share C$0.05

Published 2018-11-14, 07:39 a/m
Updated 2018-11-14, 07:40 a/m
BRIEF-Stornoway Q3 Loss Per Share C$0.05

BRIEF-Stornoway Q3 Loss Per Share C$0.05

Nov 14 (Reuters) - Stornoway Diamond Corp SWY.TO :

* STORNOWAY REPORTS FY2018 THIRD QUARTER FINANCIAL RESULTS

* Q3 LOSS PER SHARE C$0.05

* Q3 REVENUE C$29.4 MILLION VERSUS C$50 MILLION

* 2018 CARATS PRODUCED AND CARATS SOLD ARE EXPECTED WITHIN LOW END OF RANGE FOR 2018 REVISED GUIDANCE

* Q3 DIAMOND PRODUCTION WAS 329,306 CARATS PRODUCED

* 2018 CASH OPERATING COSTS PER TONNE PROCESSED AND PER CARAT RECOVERED ARE EXPECTED TO BE AT HIGH END OF GUIDANCE RANGE

* 2018 AVERAGE DIAMOND PRICING ACHIEVED IS EXPECTED TO BE WITHIN GUIDANCE

* SEES 2018 CARATS RECOVERED ON LOW END OF 1.35 TO 1.40 MILLION RANGE

* SEES 2018 CAPITAL EXPENDITURES $90 TO $95 MILLION

* STORNOWAY DIAMOND - CONTINUE TO SEE WEAKNESS IN DIAMOND MARKET, PARTICULARLY IN SMALLER AND LOWER QUALITY ITEMS CONTINUED THROUGH INTO Q4

* SEES 2018 CASH OPERATING COST/TONNE ON HIGH END OF OR SLIGHTLY ABOVE $48-$50 RANGE

* SEES 2018 CASH OPERATING COST/CARAT ON HIGH END OF OR SLIGHTLY ABOVE $88-$90 RANGE

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