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Diamcor raises US$1.4M from diamond sales in fiscal Q3

Diamcor Mining Inc. raised about US$303,138.39 from the sale of 1,905.07 carats of rough diamonds recovered from its Krone-Endora at Venetia project in South Africa.

The diamonds were sold at an average price of US$158.60 per carat, the company said Dec. 20.

The company tendered 2,256.52 carats of rough diamonds from the resumed processing at the mine, of which the remaining 351.45 carats will be tendered along with additional rough diamonds delivered by the company in January 2019.

The final tender of the Diamcor's fiscal third quarter ending Dec. 31 brings total sales to 7,162.21 carats for about US$1.4 million, resulting in an average price of US$195.66 per carat.

This represents a yearly increase of 64% in carats recovered and 62% in revenues realized from recoveries of 4,353.91 carats and revenues of US$864,546.09.