Diamcor Tender Realizes Average Price p/c of $105
October 22, 19
(IDEX Online) - Diamcor Mining sold over 4,000 carats at its first Q3 tender and sale. With proceeds totaling $424,072.44, sales resulted in an average price of $105.15 per carat. Diamcor has been processing historical tailings and stockpiled materials at the Krone-Endora at Venetia Project, which led to an expected lower average price per carat. The company said price weaknesses in certain categories of the rough diamond market also contributed, to a lesser extent, to the lower dollar per carat average achieved. However, it believes the average per-carat price will improve to historical levels as the processing of mined material begins through the refined processing facilities. "Considering that the results from current exercises are the result of the re-processing of material previously processed and stockpiled, we are very optimistic given that, effectively, these results can be combined with historical recoveries and results associated with the same material for planning purposes going forward," said Diamcor CEO Dean Taylor. Diamcor plans to tender a further 6,369 carats at its next sale in Antwerp in November.