Diamcor sells 8,274.47 carats in Q2

2522b sizedownsmall Diamcor sells 8,274.47 carats in Q26726c sizeupsmall Diamcor sells 8,274.47 carats in Q2
 Diamcor sells 8,274.47 carats in Q2Diamcor Mining Inc. announced the results of rough diamonds delivered, tendered, and sold during its fiscal quarter ending September 30, 2016. The said diamonds are from its Krone-Endora at Venetia project in South Africa.

In the said period, the company sold 8,274.47 carats generating gross proceeds of USD $1,166,937.49. The average price was USD $141.03 per carat. The price per carat realized were consistent with company expectations for the goods being offered, and reflect the continued price weaknesses in certain categories of rough diamonds.

An initial tender and sales in July 2016 resulted in 3,626.19 carats of rough diamonds selling for USD $537,619.55, while the second and final tender completed early in September 2016 saw 4,648.28 carats of rough diamonds being sold for gross proceeds of USD $629,317.94.

The said diamonds were recovered prior to August 16th, and those 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.

The 8,274.47 carats of rough diamonds delivered to tender, indicates a ~171 percent increase when compared to 4,845.93 carats tendered and sold in the company’s second fiscal quarter ending September 30, 2015.



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