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Enter Symbol
or Name
USA
CA



Diamcor Mining Inc (2)
Symbol DMI
Shares Issued 63,885,888
Close 2019-04-17 C$ 0.13
Market Cap C$ 8,305,165
Recent Sedar Documents

Diamcor sells 3,714 carats of diamonds for $522K (U.S.)

2019-04-18 13:00 ET - News Release

Mr. Dean Taylor reports

DIAMCOR REPORTS THE SALE OF 3,714.97 CARATS IN INITIAL TENDER FOR QUARTER ENDING JUNE 30, 2019

Diamcor Mining Inc. 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 continuing processing exercises being performed at the company's Krone-Endora at Venetia project sold for total gross proceeds of $522,923.70 (U.S.), resulting in an average price of $140.76 (U.S.) 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, compared with 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.

About Diamcor Mining Inc.

Diamcor Mining is a fully reporting publicly traded junior diamond mining company listed on the TSX Venture Exchange and on the OTCQB International. The company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.

About Krone-Endora at Venetia

In February, 2011, Diamcor acquired the Krone-Endora at Venetia project from De Beers Consolidated Mines Ltd., consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers's flagship Venetia diamond mine in South Africa.

Qualified person statement

James P. Hawkins, BSc, PGeo, is manager of exploration and special projects for Diamcor Mining; the qualified person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor's exploration programs; and a member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA). Mr. Hawkins has reviewed this press release and approved of its contents.

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