Diamcor Mining Inc has announced plans to hold its largest ever tender to date where it will offer 6,800 carats of rough diamonds recovered from its Krone-Endora at Venetia project in South Africa. The mining company did not announce any dates, but said this will be the initial tender for the quarter than ends December 31, 2015.

The company says that the goods at the tender will comprise of approximately 2,800 carats of rough diamonds from material recovered and processed between October 1st and 25th and that the remaining ~4,000 carats of rough diamonds were from stockes which the Company previously announced were held as rough diamond inventory as of September 30, 2015. 

The announcement said that rough diamonds being offered for the planned tender will include certain higher value rough diamonds which the Company withdrew from the previous tender, namely eight individual 2-3 carat rough diamonds, as well as one 10.93 carat “special” (+10.8 carat rough diamonds), and four additional individual “specials” ranging in size between ~11.72 carats and ~18.05 carats.

Rough diamonds being tendered are the result of the continued processing of material in the +1.0mm to -26mm size fractions, along with limited processing of material from various larger size fractions during the period. 

Diamcor has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis.  In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project.