Dominion Diamond releases out the Third Quarter Results for fiscal 2016
The Canadian diamond mining company, Dominion Diamond Corporation has published its third quarter, outcome for fiscal 2016. The fourth part of FY was punctuated by strong investment in its Diavik and Ekati mines, and the integrated net profit attributes to shareholders was $4.1 million, or $.05 per share
The Canadian diamond mining corporation, Dominion Diamond Corp. has proclaimed its third quarter result for the financial year 201. Operating cash flow of the mines was $60.9 million and after excluding the cash expenditures of $52.3 million the corporation was in profit in its fourth quarter with a positive free cash flow of $8.5 million. Positive earnings considered as a big challenge in the diamond market, thus with a positive free cash flow report Dominion Diamond Corporation is pleased. Aside from the investments in the A-21 pipe at the Diavik Diamond Mine and the Misery Main along with Pigeon, and Jay pipes at the Ekati Diamond Mine Company shows a positive free cash flow, says Brendan Bell, CEO of Dominion Diamond Corp. proudly. He further added that this year they entertain a substantial balance sheet that was running to be a next transitional year at Ekati, as the Jay environmental assessment is coming to the finishing line and the development of A-21 at Diavik continues to advance on schedule and budget. In continuation to this, he stated that consolidated N.P attributed to shareholders was $4.1 million or say $.05 per share.