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Diamond & Specialty Minerals Summary for Nov. 22, 2022

2022-11-22 20:45 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was an upbeat 101-77-132 as the TSX Venture Exchange added four points to 575. Dean Taylor's Diamcor Mining Inc. (DMI) rose one-half cent to 19.5 cents on 4,000 shares. The company has held its first rough diamond tender for the fourth quarter of 2022, selling 5,518.74 carats of diamonds from its Krone-Endora at Venetia project in South Africa for $1.47-million (U.S.), or $266.81 (U.S.) per carat. The sale was a great start to the quarter, as Diamcor is planning a second tender before the end of the year.

"We are very pleased with the processing plant refinements implemented to date," cheers Mr. Taylor, president and chief executive officer, adding that the improvements have resulted in increased volumes of rough produced and sold. This first sale "represent[s] a 148-per-cent increase in carats sold quarter over quarter," Mr. Taylor beams, letting his enthusiasm get the better of his arithmetic skills. Diamcor sold about 3,776 carats in its previous quarter, so this first sale of the current quarter is a 48 per cent increase over the previous period. In any case, he and his crew are looking forward to adding more carats to the sales ledger before the quarter is over.

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