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Diamcor Mining Inc. (TSXV:DMI,OTCQX:DMIFF) announced the results of the second rough diamond tender of its third fiscal quarter, set to end on December 31, 2015.
Diamcor Mining Inc. (TSXV:DMI,OTCQX:DMIFF) announced the results of the second rough diamond tender of its third fiscal quarter, set to end on December 31, 2015. Diamonds sold were from the company’s South Africa-based Krone-Endora at Venetia project.
As quoted in the press release:
In the second tender of the third fiscal quarter, the Company sold 2,403.64 carats of rough diamonds, for gross proceeds of US $360,016.23, resulting in an average price of US $149.78 per carat. This brings the combined rough diamonds tendered and sold during the third fiscal quarter ending December 31, 2015, including those rough diamonds sold to the South African State Diamond Trader during the period, to 9,469.34 carats generating gross proceeds of US $1,202,187.70, for an average price of US $127.02 per carat. The results represent a ~95% increase in total rough diamonds tendered and sold when compared to 4,845.93 carats tendered and sold in the Company’s second fiscal quarter ending September 30, 2015, and a ~78% increase in gross revenues when compared to US $676,835.08 gross revenues reported in that same period. As previously announced, rough diamonds recovered after the November 16th, 2015 second tender cut-off date to the end of the fiscal quarter ending December 31, 2015 will be recorded at the end of the period as rough diamond inventory on-hand, and have been delivered periodically through the remaining portion of the current quarter to be prepared for upcoming tenders expected to take place early in the Company’s fourth fiscal quarter ending March 31, 2016. The price per carat realized during the tenders completed during the third fiscal quarter was in line with Company expectations given current market conditions.
Click here to read the full Diamcor Mining Inc. (TSXV:DMI,OTCQX:DMIFF) press release.