Feb 07, 2019

Diamcor’s First Tender of 2019 Achieves Per Carat Price of US$ 273.45

Diamcor Mining Inc. said that its first sale of 2019, in which 1,407.66 carats of rough diamonds from its Krone-Endora at Venetia Project were tendered and sold, brought gross proceeds of US$ 384,928.86, resulting in an average price of USD $273.45 per carat. The Company stated that it was pleased with the results and the sale price realised.

The tender included one gem quality rough diamond in the “specials” category (+10.8 cts) weighing 11.57 carats.

Diamcor also reported that in January it delivered ~1,858.92 carats, which included a gem quality 44.09 carat rough diamond, and a low quality 37.0 carat rough diamond.  These diamonds will be sold in a tender planned for later this month, it added.       

Diamcor CEO Dean Taylor said, “We are pleased with the results of this tender and the sale price realized… (as well as with) the recovery of the 44.09 and 37.0 carat rough diamonds which we believe is attributable to the additional crushing modifications recently completed at the Project. The modifications are performing well and allowing us to process all size fractions moving forward.”

Taylor added that the Company’s efforts “are now focused on increasing volumes and normalizing operations for the longer-term”.