Diamcor completes second rough diamond tender for Q3

Diamcor Mining Inc.’s second rough diamond tender of its third fiscal quarter churned gross proceeds worth US $360,016.23 for 2,403.64 carats of rough diamonds sold at an average price of US $149.78 per carat. The third quarter closed December 31, 2015.

The stones were from the company’s Krone-Endora at Venetia project in South Africa. The tender brought the combined rough diamonds tendered and sold during the third fiscal quarter ending December 31, 2015, including those rough diamonds sold to the South African State Diamond Trader during the period, to 9,469.34 carats generating gross proceeds of US $1,202,187.70, for an average price of US $127.02 per carat.

The results represent a ~95 percent increase in total rough diamonds tendered and sold when compared to 4,845.93 carats tendered and sold in the company’s second fiscal quarter ending September 30, 2015, and a ~78 percent increase in gross revenues from US $676,835.08 gross revenues reported in that same period.

The price per carat realized during the tenders completed during the third fiscal quarter was in line with Company expectations given current market conditions.

The company expects to hold its next tenders early in its fourth fiscal quarter ending March 31, 2016.