Diamcor Reports Almost $1M of Rough Sales in Fiscal Q1

Mining and Exploration
03/06/2016 08:17

Diamcor Mining Inc. reports a combined figure of 7,821.13 carats of rough diamonds tendered and sold to date during the current fiscal quarter which ends on June 30 generated gross proceeds of $951,631 with an average price of $121.67 per carat. The stones are from its Krone-Endora at Venetia project in South Africa. A further tender will be held later this month, making combined total rough diamonds delivered for tender and sale in the quarter to 13,436 carats. That represents an increase of approximately 470% from 2,856.24 carats tendered and sold in the company's first fiscal quarter ending June 30, 2015.

"The price per carat realized during the tenders completed to date during the period were consistent with company expectations for the goods being offered, and reflect the continued price weaknesses in certain categories of rough diamonds," the firm said in a statement.