Diamcor Mining Inc. tendered and sold 6,896.50 carats of rough diamonds from its Krone-Endora at Venetia project in South Africa generating gross proceeds of US$1,028,374.34 for an average price of US $149.12 per carat during the first fiscal quarter of calendar 2016.
In an initial tender and sale held in January, Diamcor sold 3,697.33 carats of rough diamonds, for gross proceeds of US $542,540.43, resulting in an average price of US $146.74 per carat. In the second and final tender of the current fiscal quarter, Diamcor sold 3,199.17 carats of rough diamonds, for gross proceeds of US $485,834.09, resulting in an average price of US $151.86 per carat. The price per carat realized during the tenders were consistent with company expectations, says a press release from Diamcor.
Junior diamond mining company Diamcor Mining has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., 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.
