Industry News by Nemesis

Diamcor Sells Rough for $150/ct at Second Tender in 3Q

December 21, 2015

Diamcor Mining sold 2,404 carats at an average price of $150 per carat at its second tender of rough diamonds in the third quarter from its Krone-Endora at Venetia project in South Africa. The miner got $360,016 in revenues from the sale. 

Combined sales in the quarter surged 95 percent to 9,469 carats, according to a statement December 18. Revenue soared 78 percent to an estimated $1.2 million compared with sales in the previous period. The average price per carat slipped 9 percent to $127, compared with $140 in the second quarter, in line with the company’s expectations off the back of market conditions. 

Rough diamonds recovered between November 16 and December 31 will be recorded at the end of the year as inventory and are expected to be tendered before the end of March 2016, according to the miner, which is listed on Toronto’s TSX Venture Exchange.

 

Source: Rapaport

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