Fundamental Research reported that Diamcor Mining Inc. (TSXV:DMI,OTCQX:DMIFF) is currently in the final development stages of the Krone-Endora at Venetia diamond project in South Africa. The Krone-Endora project is located next to the third largest diamond mine in the world, and South Africa’s largest diamond producer: the De Beers Consolidated Mines Limited’s Venetia diamond mine.
As quoted in the market news:
The Krone-Endora project has a 2009 NI 43-101 compliant inferred level resource estimate of 54.26 million tonnes of diamond bearing gravels containing an estimated 1.31 million carats of diamonds. Production is projected to reach 10,000 carats per months over the next 12 months.
The company completed an initial sale of rough diamonds from the Krone-Endora project in November 2012. This totaled 3,579.58 carats of rough diamonds for proceeds of US$510,829 (average of US$142.71 per carat).
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