Diamcor First Quarter Sale Yields $159 per Carat
July 21, 15
(IDEX Online News) – During its first fiscal quarter, ended June 30, Diamcor Mining Inc. announced that its sole rough diamond tender generated gross revenues of $455,227.66, yielding an average price of $159.38 per carat. The company sold 2,856.24 carats during the quarter.
In addition, ~2,050 carats of rough diamonds were recovered during the period and are being prepared for sale at upcoming in the current fiscal quarter.
The company’s operational efforts during the quarter focused on the completion, commissioning and refinements of the Krone-Endora at Venetia project’s processing plant, which included the installation of a large autonomous mill/wet scrubbing unit to enhance the liberation of all material, the expansion of the treatment plant's feed bin capacity and conveyor structures to support added processing capacity, among other facilities.
Diamcor said these upgrades have increased the liberation of the conglomerated material in all size fractions and enhanced the overall operational efficiency of the treatment plant.
Overall, processing levels remained intermittent during the beginning of the quarter, followed by increased levels later in the quarter as upgrades approached completion, with the combined dry screening and treatment plant facilities demonstrating the ability to achieve initially targeted processing levels approaching 100,000 tons per month, by the end of the period.