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Diamcor Provides Results of Rough Diamond Tenders and Operational Update for First Fiscal Quarter
Jul. 10, 2017 09:02AM PST
Gem InvestingDiamcor Mining Inc, (TSXV:DMI)(the “Company”) announces the results of the rough diamonds tendered and sold in the Company’s first fiscal quarter ending June 30, 2017. The rough diamonds recovered, tendered, and sold during the period were from the processing of material being completed as part of the testing, commissioning, and calibration work underway on the …
Diamcor Mining Inc, (TSXV:DMI)(the “Company”) announces the results of the rough diamonds tendered and sold in the Company’s first fiscal quarter ending June 30, 2017. The rough diamonds recovered, tendered, and sold during the period were from the processing of material being completed as part of the testing, commissioning, and calibration work underway on the newly expanded facilities at the Company’s Krone-Endora at Venetia project in South Africa (the “Project”).
As quoted in the press release:
On April 10, 2017, the Company announced an initial tender and sale of 2,900.62 carats of rough diamonds for gross proceeds of USD $810,106.26, resulting in an average price of USD $279.29 per carat. In a second tender and sale completed in May 2017, the Company sold 3,265.07 carats of rough diamonds for gross proceeds of USD $702,635.70, resulting in an average price of USD $215.20 per carat. In a third and final tender and sale for the quarter completed in June 2017, the Company sold 2,153.13 carats of rough diamonds for gross proceeds of USD $338,380.59, resulting in an average price of USD $157.16 per carat. This brings the total rough diamonds tendered and sold from the initial processing of material through the newly upgraded and expanded facilities for the quarter ended June 30, 2017 to 8,318.82 carats, generating gross proceeds of USD $1,851,122.55, and resulting in an average price of USD $222.52 per carat.