(Note: All figs in Canadian dollars unless otherwise specified)

For the fourth quarter ended February 28, of F2015 Rockwell Diamonds Inc. reported a rise in revenue of 19%; up to $ 17. 1million from $ 14.4 million notched for Q4 2014. However, it recorded a substantially larger gross loss (before amortisation and depreciation) of $ 3.1 million for Q4 F2015 compared to a loss of $ 0.4 made in the same period of previous fiscal.

“While we achieved revenue growth of 19% to $17.1 million and our average cash operating cost continued to trend down by 19% to US$ 11.2 per m3, operating profit was negatively impacted by lower grades and higher volumes processed,” commented , James Campbell, CEO and President of the Company.

Touching on a high point he added: “We were pleased to recover two +120 carat rough diamonds at Saxendrift, in spite of increased stripping ratios and declining average grades as we approach the end of its current economic mine life.” These two large stones increased the overall average carat value of Rockwell’s diamonds by 22% to US$ 1,544 per carat.

Rockwell said that the “Ongoing cost reduction initiatives led to 19% decrease in consolidated average cash operating costs for the Middle Orange River (MOR) operations to US$ 11.2 per m3, with volumes mined and processed going up 58% and 45% respectively.”

The Company further said that “Fourth quarter operating performance (was) mostly impacted by lower grades at Saxendrift and lower volumes at Niewejaarskraal during wind-down”.

The Company’s revenue from the beneficiation pipeline rose by 60% and holds future promise as the pipeline holds more than 6,057 carats.

“Planning has commenced for a reduced operation and movement of plant to other Rockwell development properties,” said Campbell about the Company’s direction in the immediate future. “At Niewejaarskraal, the grade remained below plan and its economic potential was not being achieved with the available processing capacity. We therefore suspended operations to allow for a full review of the geological model and rationalisation with the Bondeo operations. Exploration work commenced on the farm Lanyonvale and technical work on a revised plan for a large bulk sampling operation on the Wouterspan property continued.”