Harry Winston Diamond (HWD) reports that in the fourth calendar quarter of 2012, the Diavik Diamond Mine produced 1.9 million carats from 0.5 million tonnes of ore processed, as compared to 1.6 million carats from 0.6 million tonnes of ore processed in the comparable quarter of the prior year. The 19% increase in carats recovered in the quarter was primarily due to improved grades in each of the kimberlite pipes, partially offset by the 17% decline in ore processed in the quarter, which was due to a reduction in processing plant throughput that resulted from changes in the geological composition of the ore. Open pit mining of the A-418 kimberlite pipe concluded in September, although processing of open pit ore from the A-418 kimberlite pipe will continue into calendar 2013. A new mine plan and budget for calendar 2013 is under final review by Rio Tinto (RIO) and the Company. The plan for calendar 2013 foresees Diavik Diamond Mine production of approximately 6 million carats from the mining and processing of approximately 1.6 million tonnes of ore with a further 0.2 million tonnes processed from stockpile ore. Mining activities will be exclusively underground with approximately 0.7 million tonnes expected to be sourced from A-154 North, approximately 0.5 million tonnes from A-154 South and approximately 0.4 million tonnes from A-418 kimberlite pipes.
Happy demi-anniversary, stock market rally. Will the honeymoon ever end?