01:43 PM EDT, 07/31/2018 (MT Newswires) -- Star Diamond (DIAM.TO), which is developing the Orion Diamond project in Saskatchewan, said on Monday it swung to a loss in the second quarter on operating and exploration costs.

The company said it lost $1.8 million, or nil per share, in the period, compared with a profit of $43 million, or $0.14, in the second quarter of 2017. It did not provide revenue figures.

Star said it is advancing plans for a mine at the Star and Orion South Kimberlites and has partnered with Rio Tinto, which has an option to acquire up to 60% of the project.

The company's shares were last seen down $0.01 to $0.21 on the Toronto Stock Exchange.

Price: 0.21, Change: -0.01, Percent Change: -4.55