Rockwell Diamonds Inc (TSX: RDI), a junior diamond mining company, is today’s top stock that experienced a strong share price momentum after reporting an increased revenues on strong production and sales during the first quarter of fiscal 2015. The company’s shares climbed over 7% during the last two consecutive trading days with significant number of shares exchanging hands. During the last trading session, RDI was among the top gainers in the Canadian diversified mining sector having gained 13.8% breaking the long term 200-day DMA at C$0.33. The stock ended yesterday at C$0.33 while recording huge volumes of 152,926 shares. During the last 5-trading sessions, RDI gained 17.8% with 5-day average trading volumes of 52,680 shares, while the stock accumulated over 32% in the past one month with 30-day average volumes of 37,529 shares.
For the first quarter of fiscal 2015, RDI reported that its revenues from the sale of diamonds increased 15% to C$8.8 million year-over-year, while total carat sales were up 34% to 6,677 carats, sold at an average price of $1,312 per carat. Moreover, the company reported that during the quarter total volumes of gravel processed and carat production increased by 26% and 90% respectively.
Company Description:
Rockwell Diamonds Inc (TSX: RDI) explores for and mines diamonds. The company operates on the Holpan-Klipdam, Wouterspan, and Saxendrift and South Bank Middle Orange River properties in South Africa.
1-Year Stock Chart:
Source: Bloomberg
