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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a positive 79-75-156 although the TSX Venture Exchange fell five points to 612. Dean Taylor's Diamcor Mining Inc. (DMI) closed unchanged at two cents on 22,000 shares. The company has been busy on the financial end of its affairs of late. In mid-December, Diamcor adjusted key details of its loan agreement with Tiffany & Co. -- an arrangement the two companies initially reached in 2011. The good news is that Tiffany is settling for significantly less than it is owed -- the bad news is that Diamcor will have to divert a significant amount of cash to meet its end of the bargain.

Diamcor has agreed to pay Tiffany $2-million within 90 days of signing the amended agreement and to pay a further $1.5-million one year later, a total of just over $3.5-million. Tiffany, meanwhile, agrees to forget about the additional $3.25-million that Diamcor owed under the previous iteration of their deal. Tiffany, of course, still has its option to buy the diamonds that Diamcor recovers from its never-ending trial mining program at Krone-Endora at Venetia, its alluvial and eluvial deposit in the shadow of De Beers Group's huge Venetia mine in South Africa.

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