03:11 PM EST, 11/08/2018 (MT Newswires) -- Star Diamond (DIAM.TO) fell 7.6% after the company on Thursday said its third-quarter loss widened on higher expenses and exploration and evaluation costs for its Star - Orion South diamond project in Saskatchewan.
The company said it lost $1 million in the quarter, or nil per share, compared with a loss of $0.6 million, or nil, in the third quarter of 2017. The company had no revenue in period and said its cash position had fallen to $1.6 million at the end of the quarter, down from $1.6 million at the beginning of 2018.
The company said it exploring some of the 60 kimberlites on its central Saskatchewan property, which are not part of the two kimberlites included in the Star - Orion South Project, where Rio TInto (RIO) has an option to acquire a 60% interest.
Star Diamond shares were last seen down $0.02 to $0.245 on the Toronto Stock Exchange.