Diamcor sales 3714.97 carats
Draws
average price of USD $140.76 per carat
According
to the announcement of Diamcor Mining the Company has tendered and sold
3,714.97 carats of rough diamonds in the initial tender of the Company’s first
fiscal quarter ending June 30, 2019.
The
3,714.97 carats of rough diamonds recovered from ongoing processing exercises
being performed at the Company’s Krone-Endora at Venetia Project sold for total
gross proceeds of USD $522,923.70, resulting in an average price of USD $140.76
per carat.
The
Company anticipated the lower than average dollar per carat achieved in the
tender as a higher percentage of smaller, lower quality rough diamonds were
sold in this tender.
The
Company continues to make progress on its primary objectives of increasing
processing levels, improving operational efficiencies, and the normalization of
operations for the long-term. Increased
processing levels as compared to the previous fiscal quarter are being
achieved, and operating efficiencies implemented in the areas of material handling,
loading, and circuit times are expected to result in reduced operating costs in
the long term.
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