The Conversation (0)
Diamcor Mining Inc. (TSXV:DMI) announced the tender and sale of 3,123.32 carats of rough diamonds from the Krone-Endora at Venetia Project for total proceeds of $415,495.03 (US), or $133.03 (US) per carat on average.
As quoted in the press release:
The rough diamonds sold were recovered in conjunction with testing and commissioning exercises performed on the expanded quarrying and in-field screening operations at the Project, which were very limited due to the significant delays caused throughout the quarter by the previously announced unusual rains. The Company estimates that approximately 50% of the rough diamonds sold were recovered from the re-treatment of previously processed -10mm material through the new expanded quarrying and in-field screening operations, with the remaining recoveries coming from the processing of new material up to only -12mm.
Diamcor Mining President and CEO Dean Taylor said:
I am very pleased with our team’s ability to achieve these results given the significant challenges they faced during the quarter. The new expanded quarrying and in-field operations are more efficiently able to process the smaller size fractions as confirmed by the additional rough diamonds recovered thru the re-treatment of these previously processed materials. The overall dollar per carat achieved for these exercises certainly exceeded our expectations given that the challenging operating circumstances of the quarter were expected to result in a weaker, non-representative sample consisting of a greater number of smaller rough diamonds as compared to results expected during normal operations
Click here to read the Diamcor Mining Inc. (TSXV:DMI) press release
Click here to see the Diamcor Mining Inc. (TSXV:DMI) profile.