Diamcor announces results of Q3 tender
Diamcor Mining announces the results of its final tender and sale of rough diamonds for the Company’s third fiscal quarter ending December 31, 2018. The Company tendered 2,256.52 carats of rough diamonds recovered from resumed processing exercises at the Company’s Krone-Endora at Venetia Project, of which 1905.07 carats were sold for gross proceeds of USD $303,138.39, resulting in an average price of USD $158.60 per carat for the rough diamonds tendered and sold. The balance of 351.45 carats will be tendered along with additional rough diamonds delivered by the Company in January of 2019.
With this final tender of the fiscal quarter complete, total rough diamonds tendered and sold during the Company’s third fiscal quarter ending December 31, 2018 will be 7,162.21 carats, for gross proceeds of USD $1,401,322.01, resulting in an average price of USD $195.66 per carat for the period.
This represents an increase of 64% in carats recovered and a 62% increase in revenues realized when compared to recoveries of 4,353.91 carats and revenues of USD $864,546.09 reported for the same period during the prior fiscal year. The average price per carat achieved was relatively unchanged year over year.
Material processed during the current quarter consisted of smaller size fractions, with an increased percentage of larger size fractions being incorporated later in the quarter as part of the Company’s planned move to the processing of all size fractions through the recently upgraded facilities.
In addition to the total rough diamonds tendered and sold during the quarter, the Company has delivered approximately 2,000 additional carats of rough diamonds (prior to acid wash) to Antwerp, which will be offered in upcoming tenders planned for early 2019.
