Diamcor experiences two profitable tenders for the third quarter

TSX-V-listed Diamcor Mining has achieved a 121% quarter-on-quarter enhance in whole carats offered to greater than 8 300 ct, for revenues exceeding $2-million, within the third quarter.

This, says CEO Dean Taylor, demonstrates the corporate’s means to generate important revenues with out the additional advantage of any important bigger high-value tough diamonds.

Within the present quarter, ending December 31, which is the corporate’s third fiscal quarter, Diamcor has, to date, recorded a mean value of $246/ct, which was boosted by the sale of a 43.55 ct diamond within the specials class.

Diamcor sells tough diamonds recovered from the processing and quarry materials of the Krone-Endora at Venetia challenge, in Limpopo, South Africa.

An preliminary tender and sale within the quarter beneath evaluate generated $1.4-million in income for five 518 ct offered, whereas it offered about 2 800 ct of diamonds for slightly below $630 000 in income within the second and ultimate tender for the quarter.

The entire mixed carats tendered and offered within the quarter elevated by 121% in contrast with the three 776 ct offered within the quarter ended September 30.

Diamcor has since recovered 1 015 ct of extra tough diamonds, which will likely be tendered and offered within the subsequent quarter.

The gross revenues from the 2 tenders and gross sales accomplished within the quarter beneath evaluate stay per the third fiscal quarter of final yr, which noticed the corporate producing slightly below $2.1-million in income.

Taylor says the corporate stays targeted on persevering with to extend processing volumes and the restoration of bigger high-value tough diamonds.

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