Financial and Operational Updates
(All amounts are expressed in U.S. dollars unless otherwise indicated)
The Company's year-end cash balance was $53.3 million (2015: $134.8 million). The decrease in cash during the year is primarily due to the Company's special and regular dividend payments of $149.7 million to its shareholders. The Company's $50 million credit facility remains undrawn.
During the year, the Company sold 358,806 carats for total revenues of $295.5 million (2015: $223.8 million) at an average sales price of $824 per carat (2015: $593 per carat). Excluding the sale of the 813 carat Constellation diamond, the 2016 average sales price was $649 per carat. The Company's focus on cost control resulted in a cost per tonne processed of $26.5 (Revised guidance $25.0-$28.0 per tonne - see table 5 and page 9 Non-IFRS measures).