Reconciliation is EASY TTDeBeers is about 1/3rd of WWdiamond industry. 33M carats produced last year by DB.
Avg.price last year was $162US. Botswana govt. holds 15% of DeBeers.
Botswana production was 22.6M carats last year for DeBeers, or 2/3rd of the total. Average price was $159US for DeBeers Botswana production.
The Victor mine is pretty good valuation per carat there in Ontario. 2016 production in Canada was about 1/2 Victor and 1/2 GKmine. 1m carats at $271US. They show unit costs in Canada of $212US per carat. That is going to be about all Victor. In order to hit about $80M EBITDA in Canada for 2016, as GK is still being capitlaized, then it is all coming from
Victor.
DeBeers shows 2017 first half year financials. ALL those stones are Victor in 1H 2016.
Cost is $207US per carat, and realized price is $370US per carat. EBITDA margin is roughly correct then for 2016 Canadian production, 1stH 2016, all from Victor.
$163US margin times 309K carats productionis about $50M US EBITDA.
So, IF Victor is about $370US per carat and was 724K production in 2017, and the total was 3.757M carats with an average of $235US, then GK at contribution value per carat would be an average of $205US on 3M stones.
Tells me the ROW including Russia have a lot of lower valued production contributing to the averages in Belgium!!.