Diamcor’s Second Tender of Q3 Realizes $150 per Carat

(IDEX Online News) – Diamcor Mining Inc. sold 2,403.64 carats of rough diamonds, for gross proceeds of $360,016.23, at its second tender of the third fiscal quarter. The average sale price was $149.78 per carat.

The company has sold 9,469.34 carats, generating gross proceeds of $1.2 million, for an average price of $127.02 per carat during the quarter.

The results represent a ~95 percent increase in total rough diamonds tendered and sold compared to the 4,845.93 carats tendered and sold in the previous quarter. In addition, it marks a ~78 percent increase in gross revenues compared to $676,835.08 gross revenues reported in that same period. 

The miner said the per carat price realized during the tenders completed during the third fiscal quarter was in line its expectations, given current market conditions.

Diamcor’s next tenders are expected to take place early in the  fourth fiscal quarter, ending March 31, 2016.