This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Scio Diamond - Success In CVD Single Crystal Diamond Production

GREENVILLE, SC, May 30, 2012 /PRNewswire/ - Scio Diamond Technology Corporation (OTC-BB: SCIO.OB) announced today that the first production runs of cultured diamond initiated in May were a success.  The company has scheduled 10 reactors to be in full production during its fiscal second quarter with 7 reactors having passed their initial 50-hour testing and starting the second phase of testing today.

Joe Lancia, Scio Diamond's CEO said, "Our concentration in the first weeks of mass production will be on diamond seeds.  Our process is largely self-sustaining so creating and harvesting our own seed stock is a key ongoing cost reduction driver."

In parallel with creating seed stock, Scio will be providing specified samples for testing by a number of customers in the industrial / commercial marketplace, as well as specific sizes, colors and grades of diamond for the gemstone market. "The demand for diamond continues to amaze me," says Lancia,  "We are contacted nearly every day about our product with questions about when we will be ready to start shipping."

As the first 7 reactors enter their second phase of production testing, the last 3 are being fitted with our latest power and program technology.  Their startup includes the same of multiple levels of precise testing of functionality in short, mid-range and long runs that we used for the initial 7.  Scio remains on schedule to meet its stated milestones to initiate and build production during its fiscal first quarter ending June 30 and to phase into full production during the following quarter ending September 30.

About SCIO Diamond

Scio Diamond will employ a patent-protected chemical vapor deposition process to produce high-quality, single-crystal diamonds in a controlled laboratory setting, with such diamonds referred to as "lab-grown" or cultivated diamonds. The diamonds are intended to have the identical chemical, physical and optical properties as diamonds found in the earth, and the company's highly controlled manufacturing process will enable it to produce very high-quality, high-purity, high volume, single-crystal colorless, near colorless and fancy colored diamonds.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,776.43 +304.06 1.85%
S&P 500 1,987.05 +35.69 1.83%
NASDAQ 4,781.2640 +73.4890 1.56%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs