Diamcor’s Krone-Endora at Venetia Yields 43.9-carat, Gem-quality “Special” Diamond

Junior diamond company Diamcor Mining (TSXV:DMI,OTCQX:DMIFF) came forward earlier today to announce that during “ongoing commissioning and testing exercises” at its Krone-Endora at Venetia project, it recovered a gem-quality “special” diamond of 43.9 carats. The company believes it may turn out to be one of the higher-value rough diamonds discovered at the project to date.

The aptly named Krone-Endora at Venetia is located directly adjacent to De Beers’ South Africa-based Venetia diamond mine, and this is not the first time it has provided Diamcor with a “special” diamond — the first, which came to 11.23 carats, was recovered back in May 2013. That was followed by the recovery of two more in July and an additional four in August.

However, the company’s most recent discovery is only the second gem-quality special diamond that Krone-Endora at Venetia has yielded. The first was recovered in September 2013, and it eventually went on to sell for a total of US$817,920, or $8,917.58 per carat. Given that result, Diamcor’s high hopes for the 43.9-carat gem’s value seem justified.

For now, the diamond has been passed on to tendering facilities for “initial evaluation and preparation for sale at upcoming tender,” today’s press release notes. Shares of Diamcor are currently selling for $1.40 each.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article. 

Editorial Disclosure: Diamcor Mining is a client of the Investing News Network. This article is not paid-for content.