News Bureau

Diamcor sales 3,714.97 carats in

According to the announcement of Diamcor Mining the Company has tendered and sold 3,714.97 carats of rough diamonds in the initial tender of the Company’s first fiscal quarter ending June 30, 2019. 

The 3,714.97 carats of rough diamonds recovered from ongoing processing exercises being performed at the Company’s Krone-Endora at Venetia Project sold for total gross proceeds of USD $522,923.70, resulting in an average price of USD $140.76 per carat.

The Company anticipated the lower than average dollar per carat achieved in the tender as a higher percentage of smaller, lower quality rough diamonds were sold in this tender. 

The Company continues to make progress on its primary objectives of increasing processing levels, improving operational efficiencies, and the normalization of operations for the long-term.  Increased processing levels as compared to the previous fiscal quarter are being achieved, and operating efficiencies implemented in the areas of material handling, loading, and circuit times are expected to result in reduced operating costs in the long term. 

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