Miner Rockwell Diamonds Inc posted a $30,000 loss in its first fiscal quarter. The diamond miner sold 4,927.46 carats of rough diamonds at an average price of $1,611.11 per carat.

According to IDEX Online, Rockwell’s revenues included $7.9 million from a single tender sale held during the quarter.

The joint venture with the Steinmetz Diamond Group (SDG) earned the diamond miner another $300,000 from beneficiation profit share. As part of the joint venture project, rough diamonds are polished and sold and the profit is shared.

The diamond company also reported mining 7,316 carats during the first quarter of the year, including a 66-carat stone recovered at the Holpan mine and 124-carat and 145-carat stones recovered at Saxendrift mine.

The large diamonds were sold to Rockwell's joint venture agreement with SDG.

During the first two months of the quarter, Rockwell's three operations – Holpan, Klipdam and Saxendrift – underperformed against budgeted production targets, but exceeded budgeted carats in May, the company disclosed.

Rockwell pinned the low performance in March and April on poor weather factors and high sand contents in the ore bodies.