Stornoway Diamond Corporation   reported recently that at its first sale of 2018 that closed on  January  26, 2018 , a total of 138,687 carats were sold for gross proceeds  of US$ 14.4 million; thus realising  an average price of US$ 104 per carat.

“This is the highest price achieved to date, and reflects a strengthening diamond market at the beginning of the year and appreciable improvements in breakage levels, size distribution and quality mix,” Stornoway remarked in its announcement release.

The sale parcel contained  run-of-mine diamonds recovered during a four week period from mid-October to mid-November.  Within the mix sold, 97,317 carats of +7 sieve size diamonds were sold at an average price of US$ 140/ct compared to FY 2018 guidance of US$ 125 to US$ 165 per carat; 41,370 carats of -7 sieve size diamonds were sold at an average price of US$ 21 per carat compared to FY 2018 guidance of US$ 15 to US$ 19 per carat; and 24 special stones (larger than 10.8 carats) were sold for an average price of US$ 3,210 per carat, Stornoway said, detailing the sales results.

The tender sale, held at the Stornoway’s sales agent Bonas-Couzyn’s  Antwerp offices was attended by 190 persons; with 132 bidding for the rough and the Company received 18.5 bids per parcel.