Star Diamond announces results from third quarter
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On Thursday, Star Diamond Corporation reported its financial results from the third quarter, which ended on Sept. 30.
The Saskatoon-based mining company announced that it recorded a net loss of $500,000. Despite being in the red, it’s better than where the company was sitting last year when they reported a loss of $2.0 million for the same period in 2021.
Over the course of 2022, Star Diamond reported a net loss of $2.1 million. Compared to the same period in 2021, the company reported a net loss of $5.2 million or $0.01 per share.
As of November 10, 2022, the corporation had roughly $3.0 million in cash and cash equivalents. A portion of the company’s cash and cash equivalents will be used for programs, which include remaining flow-through commitments, to further assess, evaluate, and advance certain aspects of Star Diamond’s mineral properties, as well as for general corporate matters.
