Aber Diamond declares Q4 result & production prices
15 Mar '06
4 min read
"Fiscal 2006 has been another year of significant sales growth, robust margins and record earnings from both our mining and retail segments. In addition to our record revenue levels our annual gross margin continues to strengthen. These margins, being 59% and 51%, for our mining and retail segments respectively, generated record net earnings of $81 million dollars for the year just ended," stated Alice Murphy, Aber's Chief Financial Officer.
"These robust earnings fuelled a working capital balance now in excess of a quarter billion dollars, ensuring that the Company is well positioned to continue to fund Diavik and Harry Winston capital requirements and other strategic growth opportunities, as well as continuing to reward its shareholders through its ongoing dividend program."
Aber Diamond Corporation has been provided with an updated mineral reserve and mineral resource statement, which has an effective date of December 31, 2005, for the Diavik Mine by Diavik Diamond Mines, Inc. operator of the Diavik Mine.
Delineation drilling completed during 2005 on the A-154 South, A-154 North and A-418 kimberlite pipes in order to further define the shapes of the resource bodies and production data gathered since the beginning of operations has supported an update to the geological model which estimates the mineral reserves and mineral resources contained within the ore bodies. This information is incorporated in the mineral reserve and mineral resourcetables below.
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