Dominion Diamond Corporation has upwardly revised its forecast for calendar 2013 for the Diavik diamond mine in Canada's Northwest Territories and currently foresees an 11 percent increase in production on a 100 percent basis. The firm, which owns a 40 percent share in Diavik, says it now expects approximately 6.6 million carats from the mining of approximately 1.6 million tonnes of ore and the processing of approximately 2 million tonnes of material from both mining and stockpiles. Dominion Diamond Corp., which was formerly Harry Winston Diamond Corp., attributes the increase in output for the year to the processing of more stockpiled ore during the calendar year.

This plan is subject to further revision at the end of the second quarter, notes the company.

Ekati: Dominion Diamond Corp. also states that it is currently reviewing a new mine plan and budget for the Ekati diamond mine for the next operating period. This plan foresees production (on a 100 percent basis) for the period from April 10, 2013, the date of the company's acquisition of its interest in Ekati, to the calendar 2013 year-end of approximately one million carats. According to the miner, this will be derived from the mining of approximately 3.5 million tonnes from mineral reserve, and the processing of approximately 3.9 million tonnes, with the additional material being made up of diamond-bearing kimberlite from a satellite body in the Misery open pit that is excavated as part of the waste stripping as the pit profile is advanced.

Rough Diamond Sales: Rough diamond sales for fiscal 2014, based on current rough diamond prices, are expected to total approximately US$730 million, with US$365 million coming from each of the 40 percent share of Diavik and the 80 percent share of Ekati. Included in the fiscal 2014 sales for the Diavik diamond mine is approximately US$25 million from sales of goods available for sale at January 31, 2013. Additionally, included in the fiscal 2014 sales for the Ekati diamond mine is approximately US$70 million from opening acquisition inventory that is expected to be sold towards the end of fiscal 2014.

According to the firm: "The model that had been included with the reserves and resource statement that was issued on April 24, 2013, assumed, as revenue for the period from January 1, 2013 to June 30, 2013, of approximately $135 million from the sale of all inventory on hand during that period. This model was prepared to justify the classification of reserves at the Ekati Diamond Mine by demonstrating economic value under the reporting rules of National Instrument 43-101 and does not constitute the operating plan for the project. This inventory is not expected to be sold prior to June 30, 2013."

The company adds that its technical report in respect of the Ekati property is expected to be filed during the current month.