Diamcor Rough Sales $1 Million in Q1 2016
June 05, 16
(IDEX Online News) – Diamcor Mining Inc. reported combined rough diamonds tendered and sold during the fiscal quarter, which ends June 30, to 7,821.13 carats, generating gross proceeds of $951,631 or $121.67 per carat.
In the company’s initial tender of rough stones from its Krone-Endora at Venetia project in South Africa in April, Diamcor sold 3,031.95 carats of rough diamonds for gross proceeds of $386,993 or an average price of $127.64 per carat. In a subsequent tender in May, the company sold 4,789.18 carats of rough diamonds for gross proceeds of $564,639 or an average price of $117.9 per carat.
The company withdrew an additional 646.56 carats of rough diamonds, which included 148.29 carats of higher quality goods from the second tender, and will instead now be offered at a third tender in June.
The combined total number of carats to be offered at that June tender will be 13,436.21, which represents a 470-percent increase compared to 2,856.24 carats tendered and sold in the company’s first fiscal quarter ended June 30, 2015.