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Diamcor Generates Sales of $455K in 1Q

Jul 20, 2015 2:23 PM   By Jeff Miller
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RAPAPORT...  Diamcor Mining Inc. held one rough diamond tender during its first fiscal-quarter that ended on June 30, resulting in the sale of  2,856.24 carats for $455,228, yielding an average price of $159.38 per carat. Approximately 2,050 carats of rough diamonds were recovered from the company's Krone-Endora at Venetia project in South Africa during the quarter and are being prepared for sale.

Diamcor focused on  completing, commissioning and refining upgrades and expansion to the project's processing plant, which included the installation of a large autonomous mill/wet scrubbing unit to enhance the liberation of all material, the expansion of the treatment plant's feed bin capacity and conveyor structures to support added processing capacity and the installation of nuclear density measurement equipment to increase operational efficiencies and controls associated with the plant's preconcentrating pans. In addition, Diamcor installed  expanded tailings storage and automated conveyor loading systems and  calibrated additional weightometer systems on various conveyor structures located throughout the project.

With the upgrades in place, the company's main focus during the current quarter is to increase processing volume and  advance its objectives consistent with the recommendations of the updated National Instrument 43-101 technical report filed by the company on April 28.

Tags: diamcor, diamonds, Jeff Miller, krone-endora, mining
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