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Rockwell Diamonds Announces Net Profit for Second Quarter of Fiscal 2012

Rockwell Diamonds Inc. (RDI.TO) announced results for the three and six months ended August 31, 2011.

Mr James Campbell, CEO and president of Rockwell Diamonds said: "It is particularly rewarding that Rockwell reported a net profit of $2.0 million for the second quarter, underpinned by strong cash flows from its operations. This reflects an improvement of $9.1 million from the comparable quarter in fiscal 2011. It shows that by focusing and delivering on our strategic imperatives to optimize our current operations and sustainably increasing our production profile, our operations have the potential to deliver strong returns for shareholders.

"We have made good progress with the immediate priorities of the new leadership team. We are on track with the implementation of proven technologies to improve production at Saxendrift and at Tirisano, where we are ready to start production in the next few weeks. We have also successfully recapitalized the Company and raised sufficient capital for our immediate investment requirements, supplemented by the $6.5 million proceeds from the sale of non-productive assets in July 2011. As a result, we were able to minimize the dilution of existing Rockwell investors."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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