The sale of diamonds from Rex Diamond Mining’s (REXD-C) South African operations generated revenue of US$16.8 million for the fiscal year ended March 31, 1996. Net earnings for the period amounted to US$1.74 million.
In March, the company raised $17 million through private placements. The proceeds are being used to expand operations at the Bellsbank, Ardo and Rex fissure mines in South Africa. The company also began evaluating alluvial diamond projects in Sierra Leone.
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