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DIAMCOR TENDERS ROUGH DIAMOND FOR NEARLY US$2 MILLION DURING FIRST FISCAL QUARTER

Diamcor Mining Inc. sold some 13,384.72 carats of rough diamonds from its Krone-Endora at Venetia project in South Africa for US$1,905,978.44
Pre-shift inspection of the 50 ton Terex RH 200 shovel at Venetia Mine
Credit: De Beers

Diamcor Mining Inc. sold some 13,384.72 carats of rough diamonds from its Krone-Endora at Venetia project in South Africa for US$1,905,978.44 in tenders during the first fiscal quarter ending June 30, 2016, according to a press release from the company. This equates to an average price of US$142.40 per carat, which is consistent with Diamcor’s expectations and reflects the price weakness in certain categories of rough diamonds during the period.

Junior diamond miner Diamcor Mining has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis.

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