Diamcor delivered 4,174.36 carats upon resumption!

2,054.88 carats of rough diamonds

Tendered and sold in early February! 

Diamcor Mining provided an update on the resumption of operations following the required suspension lasting for the majority of 2020 due to the unprecedented events associated with Covid-19.  The Company is making considerable progress increasing processing volumes, diamond recoveries, and revenues since resuming operations. From December 2020 through January 20, 2021 the Company had delivered 4,174.36 carats of rough diamonds for tender and sale.

In a summary key highlights are, 1: Tailings processed during the processing plant initial restart optimization yielded 666.75 carats of rough diamonds generating gross revenues of USD $79,000 equivalent to USD $118.49 per carat. 

2: The subsequent processing of quarry material has now resumed, and 1,452.73 carats of rough diamonds from initial exercises were tendered and sold generating gross revenues of USD $266,705, resulting in an average price of USD $183.59 per carat. 

3: An additional 2,054.88 carats of rough diamonds from the processing of quarry material were also delivered as of January 20, 2021, which are scheduled to be tendered and sold in Dubai in early February. 

“We are very pleased with the results and progress being made after the first few weeks of resuming operations”, stated Mr. Dean Taylor, Diamcor CEO. “Our strong start in 2021 is due to our new operations team which has worked diligently and safely to deliver superior results in a relatively short period of time. 

With operations once again established, our team will focus on increasing processing volume by executing the extensive optimization plan completed prior to suspension of operations in March of 2020. We look forward to providing an update on our upcoming processing improvements and the results of the second Dubai tender in the coming weeks. 

The Company is targeting a further increase in processing volumes starting in February 2021 with the commissioning of several planned operational refinements.