Diamcor Mining Sells First Large Gem Quality Diamond for US $817,920

Diamond Investing

Diamcor Mining Inc. (TSXV:DMI) announced the tender and sale of the previously announced ~91.65 carat gem quality octahedron diamond for total proceeds of $817,920.00, or $8,917.58 per carat.

As quoted in the press release:

The diamond was sold as part of a total sale of 2,654.63 carats of rough diamonds generating total proceeds of $1,145,604.68 (US), or $431.55 (US) per carat from the Company’s Krone-Endora at Venetia Project (“Krone-Endora” or the “Project”). The majority of rough diamonds sold were recovered in conjunction with ongoing testing and commissioning exercises on the lower-grade upper zone material in the +1.2mm to -12.0mm size fractions. Despite the fact the lower-grade upper zone material is expected to produce lower value and smaller size stones, the value per carat achieved from the sale of these diamonds exceeded the Company’s expectations. The remaining diamonds, including the 91.72 carat stone, came from the limited processing of material in the +12.0mm to -26.0mm size fractions.