Edition:
India

Stornoway Q3 Loss Per Share C$0.05


Wednesday, 14 Nov 2018 

Nov 14 (Reuters) - Stornoway Diamond Corp ::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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