January 16, 2017 / 11:26 PM / 2 years ago

BRIEF-Rockwell Diamonds Q3 revenue fell 51 percent to C$3.5 million

Jan 16 (Reuters) - Rockwell Diamonds Inc

* Q3 revenue fell 51 percent to C$3.5 million

* Rockwell Diamonds Inc says net loss of $5.5 million for quarter, compared to $10.5 million net loss for Q3 f2016

* Rockwell Diamonds says completed restructuring and rightsizing exercise which will result in reduction of total labour complement from 604 to 297 employees

* Rockwell Diamonds says significant portion of labour reduction will be transferred with sale of Saxondrift and Remhoogte/Holsloot

* To focus on ramping up WPC production to 200,000m per month by Q1 2018

* Rockwell Diamonds says to increase production beyond Wouterspan’s full capacity, decided to move existing Holsloot plant to Stofdraai mining area north of Wouterspan

* Rockwell Diamonds says to focus on supplementing WPC production after relocation of Holsloot plant to Stofdraai, to achieve 260,000m per month in Q2 f2018

* Rockwell Diamonds Inc says continuing to rationalise non-core assets and related liabilities Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below