Welcome to our dedicated page for Diamcor Mining news (Ticker: DMIFF), a resource for investors and traders seeking the latest updates and insights on Diamcor Mining stock.
Diamcor Mining Inc. (DMIFF) delivers ethically sourced rough diamonds through its flagship Krone-Endora Project near De Beers' Venetia Mine. This page provides investors and stakeholders with timely updates on operational milestones, financial results, and strategic developments.
Access official press releases covering project expansions, partnership announcements (including updates on the Tiffany & Co. alliance), and sustainability initiatives. Our curated news collection ensures transparent access to material developments impacting Diamcor's position in the diamond mining sector.
Key updates include progress reports from the Krone-Endora Project, financing activities, and market-related announcements. Bookmark this page or check regularly to stay informed on Diamcor's advancements in responsible mining and operational efficiency.
Diamcor Mining Inc. (TSXV:DMI) (OTCQB:DMIFF) has appointed Mr. Ross McElroy as Special Advisor, enhancing its leadership in the diamond mining sector. Mr. McElroy brings over 35 years of experience in mining, including senior roles at BHP and Fission Uranium Corp, and has been awarded the PDAC Bill Dennis Award for exploration success. His expertise will focus on the Krone-Endora at Venetia Project, which has significant low-cost displacement potential from the De Beers Venetia mine. CEO Dean Taylor believes Mr. McElroy's contributions will be vital in advancing their operational goals post-COVID. Diamcor has a strategic alliance with Tiffany & Co. to secure future rough diamond production, reinforcing its market position.
Diamcor Mining Inc. (OTCQB-DMIFF) reported strong performance in its fourth fiscal quarter ending March 31, 2023, generating gross revenues of USD $1,579,728.40 from the sale of 3,310.67 carats of rough diamonds. The average price per carat was USD $477.16, bolstered by two significant gem-quality diamonds weighing 72.5 carats and 45.15 carats. Despite challenges related to power supply disruptions in South Africa, the company is actively managing operations and plans to enhance its power systems by Q2 2023 to mitigate future risks. A strategic alliance with Tiffany & Co. further supports its long-term growth objectives.
Diamcor Mining Inc. (DMIFF) reported the recovery of a 45.15 carat gem quality rough diamond from its Krone-Endora at Venetia Project, following a previous recovery of 72.53 carats. This increase in larger gem-quality diamonds is expected to boost revenues despite current processing challenges due to power load-shedding in South Africa. The company is also progressing with a comprehensive power management solution to mitigate ongoing supply issues, targeting installation completion by the next fiscal quarter. The latest quarter saw 1,538.62 carats sold, generating gross revenues of USD $980,696.08.
Diamcor Mining Inc. has announced the recovery of a 72.53 carat gem quality rough diamond and the initial sale of 1,466.12 carats of rough diamonds, generating gross revenues of USD $294,696.73 this quarter. The average price per carat stands at USD $201.00. The lower total carats sold were attributed to increased load-shedding in South Africa, though advanced discussions are underway to mitigate this issue. The recovered rough diamonds will be either tendered or held for future sales. The company indicates strong ongoing demand for large gem-quality diamonds, reinforcing positive revenue potential.
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