Diamcor sells 13,384.72 carats in first fiscal quarter

Diamcor Mining Inc. announced the final results of rough diamonds delivered, tendered, and sold in the company’s first fiscal quarter ending June 30, 2016 from its Krone-Endora at Venetia project in South Africa. The total rough diamonds tendered and sold during the first fiscal quarter amounted to 13,384.72 carats, generating gross proceeds of USD $1,905,978.44, resulting in an average price of USD $142.40 per carat.

The sales of 13,384.72 carats of rough diamonds represent a ~469 percent increase from 2,856.24 carats tendered and sold in the company’s first fiscal quarter ending June 30, 2015. The total gross revenues of USD $1,905,978.44 represented a 419 percent increase in gross revenues when compared to USD $455,227.66 reported for the same period in the previous year.

The price per carat realized during the tenders completed during the period were consistent with company expectations for the goods being offered, and reflect the price weakness in certain categories of rough diamonds during the period.

The company further noted that The average price for first fiscal quarter ending June 30, 2015 was of a higher value at US$ 159.38 compared to this year of US$ 142.40 per carat.