Diamcor Q3 tender earns USD $158.60 per carat
Diamcor
tendered over
2K
yet sold 1905.07 carats
Diamcor
Mining announces the results of its final tender and sale of rough diamonds for
the Company’s third fiscal quarter ending December 31, 2018. The Company tendered 2,256.52 carats of rough
diamonds recovered from resumed processing exercises at the Company’s Krone-Endora
at Venetia Project, of which 1905.07 carats were sold for gross proceeds of USD
$303,138.39, resulting in an average price of USD $158.60 per carat for the
rough diamonds tendered and sold. The
balance of 351.45 carats will be tendered along with additional rough diamonds
delivered by the Company in January of 2019.
With
this final tender of the fiscal quarter complete, total rough diamonds tendered
and sold during the Company’s third fiscal quarter ending December 31, 2018
will be 7,162.21 carats, for gross proceeds of USD $1,401,322.01, resulting in
an average price of USD $195.66 per carat for the period.
This
represents an increase of 64% in carats recovered and a 62% increase in
revenues realized when compared to recoveries of 4,353.91 carats and revenues
of USD $864,546.09 reported for the same period during the prior fiscal
year. The average price per carat
achieved was relatively unchanged year over year.
Material
processed during the current quarter consisted of smaller size fractions, with
an increased percentage of larger size fractions being incorporated later in
the quarter as part of the Company’s planned move to the processing of all size
fractions through the recently upgraded facilities.
In
addition to the total rough diamonds tendered and sold during the quarter, the
Company has delivered approximately 2,000 additional carats of rough diamonds
(prior to acid wash) to Antwerp, which will be offered in upcoming tenders
planned for early 2019.
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