Diamcor Mining’s gross revenues from tenders and sales held in its fourth quarter, ending March 31, 2022, rose to $1,3 million, a 21% increase over the previous quarter.
It said the total carats sold during the fourth quarter decreased by 12% to 4,787.89 when compared to the 5,441.88 sold in the previous quarter.
This, however, was largely due to the timing of tenders during the fourth quarter, and the decision by the Company in March 2022 to retain and instead offer approximately 2,000 additional carats at upcoming tenders during the current quarter.
Diamcor said despite the lower volume sold during the fourth quarter ended March 31, 2022, the average dollar per carat of $271.93 achieved during the period rose by 38% over the previous quarter. The increase in the average price per carat achieved during the period was mainly due to significant price increases experienced early in the quarter which appears to be due to rough diamond shortages in various categories
“The progress made during the quarter has strategically positioned our company with the potential to supply quality buyers with increased volumes of rough diamonds at a time when potential shortages are anticipated moving forward,” said Diamcor chief executive Dean Taylor.
Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines in 2011, 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 Venetia Diamond Mine in South Africa.
Mathew Nyaungwa, Editor in Chief of the African Bureau, in Zimbabwe, Rough&Polished
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