Industry News by Nemesis

Diamcor Q1 2016 Diamond Tenders Raise $1.9 Million

June 27, 2016

Diamcor Mining Inc. has announced updated results of its rough diamond tenders from the first fiscal quarter ending June 30, from its Krone-Endora at Venetia Project in South Africa.

 

In the final tender of the quarter held in June, the company sold a combined total of 5,563.59 carats of rough diamonds with gross proceeds of $954,346.49 for an average price of $171.53 per carat. The final combined rough diamonds tendered and sold during the first fiscal quarter was 13,384.72 carats, generating proceeds of $1.9 million for an average price of $142.4 per carat.

 

In April, Diamcor sold 3,031.95 carats of rough diamonds for gross proceeds of $386,993 or an average price of $127.64 per carat. In a subsequent tender in May, the company sold 4,789.18 carats of rough diamonds for gross proceeds of $564,639 or an average price of $117.9 per carat.

 

The company said that the 13,384 carats represented a ~469-percent increase compared to the 2,856 carats tendered and sold over the same period in the prior year. The total gross revenue of $1.9 million represented a ~419-percent increase in gross revenues when compared to $455,227 during the first quarter of 2015.

 

Source: Idex

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