Rs 34 lakh worth diamond parcel stolen

2nd theft in a span of five years: last took place in 2001

Post By : Diamond World News Service On 19 January 2007 12:00 AM
Ashton Mining Inc., a Canadian miner witnessed an 88% increase in profit to $944,000 in the first quarter of the 2006 fiscal year as compared to $500,000 in the first quarter of 2005. The net income for the period includes a $1.65 million future tax recovery.%%Quarterly administrative expenses stayed relatively flat at $650,000. Excluding exploration costs written off to operations, corporate costs for the first quarter of 2006 were comparable to those incurred during the same period in 2005. Including the contribution of the corporations joint venture partners, gross exploration costs in the first quarter of 2006 were $7.4 million.%%Most of these expenditures relate to drilling activities and mobilisation of equipment and supplies in preparation for the collection of the bulk sample in Quebec scheduled to begin in the summer of 2006. Ashtons share of these expenditures was $3.6 million of which more than 90% was expended in Quebec.

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