Diamcor Mining has narrowed its net loss for the financial year ended March 31. According to a press release by the company, Diamcor lost $762 308, compared with $2.4 million for the 2022 financial year.
Diamcor said that its main focus during the year has centered on cost management, advancing trial mining endeavors, and preparing for drilling and bulk sampling activities at the Krone-Endora at Venetia diamond mining project in Limpopo, South Africa.
Diamcor tendered and sold 18,476 carats of rough diamonds, which included an increase in the recovery of larger special rough diamonds (+10.8 carats) which resulted in a 37% increase in revenues to $6,291,487, and a 39% increase in the resulting average dollar per carat of $340.51 per carat.
Meanwhile, Firestone Diamonds, which owns 75% of the Liqhobong Diamond Mine in Lesotho, announced results for the quarter ended June 30, 2023. The miner reported a drop in average diamond value realized – $101 per carat compared to $107 per carat in the previous quarter, (Q3: US$107 per carat); and a drop in carats recovered – 169,512 during the quarter, compared with 181,700 in the previous quarter. Its revenue also dropped – from $20.6 million in the previous quarter, to $12.6 million in the period under review.
