Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Diamcor sold a total of 1,939.81 carats of rough diamonds at initial tender
  • Generated gross revenues of over US$478,000
  • The company also reported the recovery of two gem quality rough diamonds in the “specials category”
  • Project is adjacent to De Beers Venetia Diamond Mine in the Limpopo province, RSA
  • Diamcor Mining Inc. (DMI) is up 10.53 per cent on the day, trading at $0.21 per share at 2:40 pm EDT.

Diamcor Mining (DMI) has shared the results of its first tender and sale of rough diamonds recovered from the Krone-Endora at Venetia Project in Q2.

The project is adjacent to the De Beers Venetia Diamond Mine in the Limpopo province of the Republic of South Africa.

In this initial tender, Diamcor sold 1,939.81 carats of rough diamonds, generating gross revenues of US$478,391.90, resulting in an average price of US$246.62 per carat.

DMI has also reported the recovery of two gem-quality rough diamonds in the “specials category” – a 59.25 carat and a 21.85-carat diamond – which have been delivered and are expected to be tendered in August 2022.

Diamcor’s CEO, Dean Taylor, commented on the results.

“We are very pleased with the results of this first tender and sale early in the current quarter and continue to see strong demand for our rough diamonds given their overall quality. Our efforts continue to focus on increasing processing volumes, and the recovery of two large gem quality rough diamonds in the specials category from our recently upgraded facilities at this point is yet further confirmation of the Project’s potential for large high-value gem quality rough diamonds.”

Kelowna BC-based Diamcor Mining Inc. is a fully-reporting, junior diamond mining company with a well-established operational and production history in South Africa and extensive experience supplying rough diamonds to the world market.

Diamcor Mining Inc. (DMI) is up 10.53 per cent on the day, trading at $0.21 per share at 2:40 pm EDT.

More From The Market Herald

" Altiplano (TSXV:APN) discovers new gold & copper zone at Maria Luisa

Altiplano Metals (APN) has made a discovery at the Maria Luisa Project.

" Infinity Stone (CSE:GEMS) to acquire Thor Manganite Project

Infinity Stone Ventures Corp. (GEMS) has secured an option to acquire the Thor Manganite project on the Magdalene Islands in Québec.

" Metallica Metals (CSE:MM) commences inaugural surface exploration program on its Sammy Ridgeline PGM Project

Metallica Metals (MM) has begun field mapping and prospecting work at its nickel-copper (Ni-Cu) Sammy Ridgeline Project.

" Wealth Minerals (TSXV:WML) partners with thyssenkrupp Mining Technologies to develop Ollagüe Salar

Wealth Minerals (WML) and thyssenkrupp Mining Technologies are partnering to develop Wealth Minerals’ Ollagüe Salar Lithium project in Chile.