Diamcor Q3 Diamond Sales Generate Average Price of $221.96 per Carat

(IDEX Online News) – For the third fiscal quarter ended December 31, 2014, Diamcor Mining Inc. sold 3,579.07 carats of rough diamonds, generating gross revenues of C$886,843 ($709,077), for an average price of $221.96 per carat. In the same prior year period, sales totaled 3,955 carats with gross revenues of C$1,396,591 ($1,116,647).

The company said third-quarter revenues were positively impacted by the recovery of a 91.7 carat gem-quality diamond, which sold for $817,920. Diamcor recovered an additional 1,678.18 carats during the third fiscal quarter.

For the nine-month period ended December 31, 2014 gross revenues were C$2,029,448 ($1,622,649) compared to C$2,831,104 ($2,263,615) during the prior fiscal year.

Net income from operating activities totaled $177,344 during the quarter ended December 31, 2014, compared to $822,871 for the same period during the prior fiscal year. For the nine month period, ended December 31, 2014, net income from operating activities was $925,644 compared to $1,273,205 the previous year.

For the fiscal quarter ended December 31, 2014, the company incurred a net loss before income tax of $651,721 or $0.01/share, compared to net income before income tax of $23,299 or $0.01/share in the prior fiscal year.

For the nine month period ended December 31, 2014, the net loss before income tax was $1,533,016 increased significantly compared to a net loss before income tax of $3,353,280 during the prior fiscal year.