Diamcor's Strong June Rough Diamond Tender Caps 400% Increase Over Q1 2015

Mining and Exploration
27/06/2016 16:14

At the final tender of rough diamonds from its Krone-Endora at Venetia project in South Africa for Q1 held in June 2016, the Diamcor Mining Inc. sold a combined total of 5,563.59 carats of rough diamonds for gross proceeds of USD $954,346.49, resulting in an average price of USD $171.53 per carat. This brings the final combined rough diamonds tendered and sold during the first fiscal quarter ending June 30, 2016 to 13,384.72 carats, generating gross proceeds of USD $1,905,978.44, resulting in an average price of USD $142.40 per carat. The first fiscal quarter rough diamond tender and sales of 13,384.72 carats of rough diamonds represent a ~469% increase when compared to the 2,856.24 carats tendered and sold in the Company’s first fiscal quarter ending June 30, 2015. Total gross revenues of USD $1,905,978.44 realized during the fiscal quarter ended June 30, 2016 represents a ~419% increase in gross revenues when compared to USD $455,227.66 reported for the same period in the previous year.

Diamcor sold 3,031.95 carats for USD$ 386,992.89 at the tender completed in April, 2016 for an average price of $127.64 per carat, and sold 4,789.18 carats for USD$ 564,639.06 at the tender completed in May, 2016 for an average price of $117.9 per carat.