Diamcor achieves US$308.06 a carat

Tender rough bags more

76% over the previous!

Diamcor Mining announces the results of a second tender and sale of rough diamonds for the Company’s fourth fiscal quarter ending March 31, 2019. The Company sold 1,220.23 carats of rough diamonds recovered from ongoing processing exercises performed at the Company’s Krone-Endora at Venetia Project, for gross proceeds of USD $375,907.72, resulting in an average sale price of USD $308.06 per carat.

This represented a price increase of 76% as compared to the Company’s average price per carat of $176.16 realized on all rough diamonds tendered and sold to date. The tender included the sale of the previously announced 44 carat gem quality rough diamond.

The Company also announced the addition of Precision Capital Development Services (PCDS) to act on a consulting basis to support the existing operational team.  PCDS has extensive experience in the operational management of mining projects, and their services are aimed at aiding the Company with its primary objectives of increasing processing levels, operational efficiencies, and the normalization of operations for the long-term.

“We continue with the results of our tenders, and this recent tender clearly demonstrates the positive impact that larger diamonds in the special category can have on our revenues”, commented Diamcor CEO Mr. Dean Taylor.  “With rough diamond tenders, we are performing well; our stated focus has been on increasing volumes, and the further advancement of the Project.

After several months of planning and discussions, I believe the addition of PCDS to our existing operational team will greatly enhance our ability to achieve those objectives, and we look forward to working with them in the coming weeks and months” added Mr. Taylor.