Lucara Q1 loss widens

May 9, 2018

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Lower revenues, higher depletion and amortisation costs and higher administrative and other expenses contributed to a widening in Lucara Diamonds’ net loss to $7-million for the quarter ended March 31, compared with a loss of $1.5-million in the first quarter of 2017. The Vancouver-based miner, which operates the Karowe mine, in Botswana, achieved earnings before interest, taxes, depreciation and amortisation (Ebitda) of $1.4-million for the quarter under review, compared with an Ebitda of $4.9-million reported for the prior comparable period.

Category: General