Diamcor has recovered a 45.15-carat gem-quality rough diamond from the processing of quarry material at its Krone-Endora at Venetia Project in South Africa.
This is the second large gem-quality diamond recovered in less than a month as the company unearthed a 72.53-carat rough diamond last month.
“Even while operating at restricted processing levels, the company’s recovery of the previously announced 72.53-carat diamond gem-quality rough diamond and the recent recovery of the above mentioned 45.15-carat gem-quality rough diamond in the current quarter continues to confirm the potential for these types of large rough diamonds to be recovered from the project’s deposits and provide a positive impact to gross revenues,” said Diamcor
It said the combination of the project’s relatively high percentage of gem-quality diamonds recovered to date, along with the recent recovery of two large gem-quality special rough diamonds, is expected to have a positive impact on the average dollar per carat for the current period.
The company is planning to deliver 2,000 carats for tender and sale.
Tender and sales totalling 1,538.62 carats of rough diamonds in the current quarter to date have generated gross revenues of $980,696.08, resulting in an average dollar per carat of $637.39.
Meanwhile, Diamcor said it continued with the installation of comprehensive systems aimed at mitigating the long-term impact any potential power cuts has had on the project.
Installation is targeted for completion at the end of the company’s next fiscal quarter.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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