Lucara Diamond Corp. (LUC.TO) reported that its second-quarter net loss widened to was $7.6 million from $5.9 million in the year ago quarter, reflecting increased administration expenses and foreign exchange losses during the period. On a per share basis, net loss for the both latest-quarter and prior year quarter was $0.02.
Exploration Expenditure for the quarter declined to $2.8 million from $2.9 million last year.
Forecast sales in 2012 are 230,000 carats, compared to prior guidance: 300,000 carats. The reduction in sales is predominantly as a result of plant production restrictions caused by insufficient water being recovered from the initialy installed dewatering wells and the processing of highly weathered ore which requires more water per tonne treated than originally expected.
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by RTT Staff Writer
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