Average rough price per carat increased!

Diamcor achieves average USD $298.97

Per carat in February 2021 sale

 Diamcor Mining announced the final results of the Company’s second tender and sale of rough diamonds recovered from the processing of quarry material since resuming operations as announced on January 25, 2021.  These results again demonstrate the potential for increased average dollar per carat values from the operational and processing refinements made by the Company.   

The Company’s second tender and sale of rough diamonds held in Dubai UAE was completed during the first week of February 2021. A total of 2,028.33 carats of rough diamonds recovered from the processing of quarry material were tendered and sold, generating gross revenues of USD $606,415, resulting in an average price of USD $298.97 per carat.

The tender and sale include two rough diamonds in the specials (+10.7 carats) category, 1: One 10.70 carat gem quality diamond typical of historical specials recovered & 2: One 14.16 carat gem quality diamond of exceptional quality. 

The size and quantity of special rough diamonds in this sale and tender are not seen as uncommon for the Project and are consistent with size frequency distribution expectations when processing quarry material. 

The average dollar per carat achieved for the balance of the rough diamonds tendered and sold, excluding the noted exceptional 14.16 carat diamond, was USD $233.71 per carat.

 Overall demand and pricing in a majority of the rough diamond assortments tendered and sold by the Company in February continued to trend upwards.    

“We are very pleased with the results of this tender and sale of rough diamonds”, stated Mr. Dean Taylor, Diamcor CEO. “The higher average dollar per carat achieved reflects improved recoveries throughout the entire size frequency distribution and provides further confirmation of both the potential and quality of the Project’s deposits, and the effectiveness of the refinements made by our new operational team.” 

The Company’s efforts to further increase processing volumes starting in February 2021 as previously noted on January 25, 2021 is now underway.  Planned operational refinements to achieve this goal were completed on time and are being commissioned over the coming weeks.  Once these commissioning efforts are completed, the Company will provide a further update.