Diamcor achieves US$273.45 per carat

Sales 1407.66 carats of rough

Diamcor Mining announces the results of an initial tender and sale of rough diamonds for the Company’s fourth fiscal quarter ending March 31, 2019. The Company tendered and sold 1,407.66 carats of rough diamonds recovered from ongoing processing exercises performed at the Company’s Krone-Endora at Venetia Project, for gross proceeds of USD $384,928.86, resulting in an average price of USD $273.45 per carat for the rough diamonds tendered and sold. The tender included the sale of one gem quality rough diamond in the specials category (+10.8 carats), weighing 11.57 carats.

An additionally about 1,858.92 carats of rough diamonds were also delivered prior to the end of January 2019, which included a gem quality 44.09 carat rough diamond, and a low quality 37.0 carat rough diamond.  These diamonds will be sold in a tender planned for later this month.

      

“We are pleased with the results of this tender and the sale price realized”, commented Diamcor CEO Mr. Dean Taylor.  “We are equally as pleased with the recovery of the 44.09 and 37.0 carat rough diamonds which we believe is attributable to the additional crushing modifications recently completed at the Project.  The modifications are performing well and allowing us to process all size fractions moving forward.  Our efforts are now focused on increasing volumes and normalizing operations for the longer-term”, added Mr. Taylor.