Diamcor Provides Update on Rough Diamond Tenders

Diamcor Mining (TSX.V:DMI) has announced its results of rough diamonds delivered, tendered, and sold in the company’s current fiscal quarter ending September 30, 2016.
According to the press release:

In an initial tender and sales completed in July 2016, the Company sold 3,626.19 carats of rough diamonds, for gross proceeds of USD $537,619.55, resulting in an average price of USD $148.26 per carat. In a second, and final, tender for the quarter completed early in September 2016, the Company sold 4,648.28 carats of rough diamonds, for gross proceeds of USD $629,317.94, resulting in an average price of USD $135.39 per carat. This brings the combined rough diamonds tendered and sold during the current fiscal quarter to 8,274.47 carats, generating gross proceeds of USD $1,166,937.49, resulting in an average price of USD $141.03 per carat. The price per carat realized during the tenders and sales completed during the period were consistent with Company expectations for the goods being offered, and reflect the continued price weaknesses in certain categories of rough diamonds. Rough diamonds delivered, tendered and sold in the current period were the result of rough diamonds recovered prior to August 16th, 2016. Rough diamonds recovered after August 16th and until September 30, 2016 will be recorded as rough diamond inventory on-hand for the second fiscal quarter ending September 30, 2016.

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