South Africa : Diamcor Mining sold 13,384.72 carats diamonds for circa 2 million $

Diamcor Mining Inc, that owns Krone-Endora at Venetia diamond project in South Africa, sold a total of 13,384.72 carats diamonds that generated gross proceeds of 1,905,978.44 US$, during the quarter ending June 30, this year.

The company reported, in detail, the sale of 3,031.95 carats for 386,992.89 US$ in a tender completed in April, 4,789.18 carats for 564,639.06 US$ in May, and of 5,563.59 carats for 954,346.49 US$ in the tender completed in the current June.

The TSX Venture Exchange listed Canadian company disclosed the performance in the final update, issued on June 27, on rough diamond tenders for the first fiscal quarter that saw an average price of 142.40 US$ per carat.

The total 13,384.72 carats of rough diamonds represent roughly 469% increase compared to 2,856.24 carats tendered and sold in the first fiscal quarter ending June 30 last year, the company said.

Meanwhile, the total gross revenues of 1,905,978.44 US$ for the period represents roughly 419% increase in gross revenues compared to 455,227.66 US$ reported for the same period in the previous year. 

Diamcor Mining Inc acquired, from De Beers Consolidated Mines Ltd, the Krone-Endora at Venetia Project consisting of the prospecting rights over the farms Krone 104 and Endora 66.

The Krone-Endora cover about 5,888 hectares located directly adjacent to DeBeers’ Venetia Mine, the third largest diamond mine in the world. (Rutilance.com)