Tender Prices Exceed Expectations, says Diamcor
September 06, 21
(IDEX Online) - Diamcor Mining says prices exceeded expectations as it sold just over $1m of rough at three tenders in July and August.
The Canadian junior miner acquired Krone-Endor, at the Venetia deposit in South Africa, from De Beers in February 2011, and has a long-term strategic alliance and first right of refusal with Tiffany & Co's Canadian subsidiary.
In the three months to September Diamcor sold 4,330.24 carats, for a total of $1,023,842 - an average of $236 per carat.
"We are pleased with the continued strong dollar per carat and gross revenue numbers being achieved during the quarter despite currently operating on lower volumes due to the COVID-19 Pandemic", said CEO Dean Taylor.
The company sold 1,560.39 carats of rough diamonds at its first tender in July 2021 were sold, generating gross revenues of $271,509. It sold an additional 1,429.15 carats later that month for $472,576. And in late August it sold 1,340.70 carats for $301,812.
It said overall demand and pricing in most assortments tendered had met or exceeded its expectations.
Pic courtesy Diamcor