Kimberley Diamonds has reported that it sold 21,431 carats for $15.5m during the third quarter of 2014, compared with 35,440 carats for $31.2m for the same period a year ago.
During the quarter, the company recovered 22,280 carats compared with 36,545 carats last year due to continued treatment of lower grade surface ore stockpiles which has a resource grade of 2.43cpht.
Sales revenue was A$17m, in line with forecast and net cash outflow from operating activities of A$0.4m, while operating EBITDA was A$1.2m affected by lower than anticipated portion of cash costs being capitalized to ore and diamond inventory.
In February, the company acquired Lerala Mine in north-east Botswana as part of the takeover of UK-based Mantle, and bought Smoke Creek Diamond Project from Venus.
Kimberley Diamond owns and operates the Ellendale Diamond Project in the West Kimberley region of Western Australia and also has interests in a portfolio of tenements prospective for gold and copper-gold in New South Wales and diamond tenements in Canada.