Diamcor Raises Nearly $500,000 at Q4 Second Tender
March 08, 16
(IDEX Online News) – Diamcor Mining Inc., announced that in the second and final tender of the current fiscal quarter, it sold 3,199 carats of rough diamonds for $485, 834.
This follows a previous tender in January, in which the company sold 3,697 carats of rough diamonds $542, 540. The combined rough diamonds tendered and sold during the quarter was 6,896.5 carats, which generated gross revenue of $1.028 million. The average price of diamonds for the two tenders was $149.12 per carat.
As part of the tender, Diamcor sold 12.78-carat special rough diamond and 7.5-carat stone, recovered utilizing the new Tomra XRT sorting unit.
The fourth quarter results represented a ~49 percent increase in volume over the 4,619 carats the company sold in the fourth quarter of the previous fiscal year. Revenue increased ~22 percent compared to the $842,420 over the same period a year prior.
Diamcor has an alliance with Tiffany & Co. Canada, a subsidiary of the New York-based Tiffany & Co., to purchase up to 100 percent of the future production of rough diamonds from the Krone-Endora at Venetia Project.