JOHANNESBURG (miningweekly.com) – Diamcor Mining on Tuesday posted a 70% rise in carat sales and a nearly 50% hike in revenue for the second quarter of the year.
The junior diamond miner sold 4 845.93 ct through one rough diamond tender generating revenue of $676 835.08 during the three months to September.
The company’s withdrawal of 10.93 ct special and a grouping of eight individual 2 ct to 3ct rough diamonds was partially responsible for a dip in the average price per carat realised to $139.67 from $159.38 in the preceding quarter.
These rough diamonds, along with newly discovered rough diamonds ranging in size from 5 ct to 10.8 ct and four individual specials between 11.72 ct and 18.05 ct in size were being prepared for sale in upcoming tenders planned during the next quarter.
Overall, Diamcor had, to date, realised an average price of $200.42/ct from the sale of 41 664.02 ct of rough diamonds.
The company also reported a significant increase in rough diamonds recovered and not tendered, with around 4 030.83 ct of rough diamonds in inventory during the quarter under review, compared with the 2 050 ct during the June quarter.