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) generates news primarily around its diamond mining activities, project development, and financing initiatives. As a fully reporting Canadian diamond mining company with a proven history in the mining, exploration, and sale of rough diamonds, Diamcor’s updates often center on the progress and funding of its flagship Krone-Endora at Venetia Project in South Africa.
News coverage for Diamcor frequently includes announcements about private placements, term loan financings, and non-dilutive funding arrangements with industry partners. The company has reported multiple financings aimed at increasing processing volumes, advancing work programs, and supporting bulk sampling and expansion across the greater portions of the Krone-Endora project area.
Another recurring theme in Diamcor’s news is its long-term strategic alliance with Tiffany & Co. Canada. Releases describe Tiffany & Co. Canada’s first right of refusal to purchase future production of rough diamonds up to 10.8 carats from Krone-Endora, as well as loan and security agreements, amendments to outstanding loans, and related creditor actions. These items can be important for readers monitoring Diamcor’s capital structure, creditor relationships, and project funding.
Operational and regulatory updates also appear in Diamcor’s news flow. The company has disclosed delays in financial statement filings, applications for a management cease trade order, and the impact of supply chain disruptions, tariffs, and creditor enforcement steps on its South African operations and audit timelines. In addition, news items cover shareholder meetings, voting results on corporate matters, and access to meeting materials.
Investors and observers following DMIFF news can expect a mix of project-level developments at Krone-Endora, financing transactions, alliance-related disclosures with Tiffany & Co. Canada, and regulatory or governance updates that together outline the company’s ongoing efforts to advance its diamond mining business.
Diamcor Mining Inc. (DMIFF) announced that shareholders approved all resolutions during its Annual General and Special Meeting on December 23, 2021. Significant resolutions included the Amendment to the Stock Option Plan and the election of directors, with a notable 98.59% of votes in favor of the number of directors proposed. A total of 43,812,357 shares were voted, representing 48.48% of all outstanding shares. The company continues to strengthen its operational capabilities through its partnership with Tiffany & Co. for diamond supply.
Diamcor Mining Inc. announced the recovery, delivery, tendering, and sale of an additional 2,925.66 carats of rough diamonds from its Krone-Endora at Venetia Project, exceeding previous estimates by 175.66 carats. Total sales for the quarter reached 5,442.57 carats, a 25% increase from the previous quarter, generating gross revenues of USD $1,074,780.69 at an average price of USD $197.48 per carat. Continued upgrades at the processing facilities are on schedule, aiming for a 100% increase in processing volume. The company anticipates further sales and enhanced recoveries in the upcoming quarter.
Diamcor Mining Inc. has reported the delivery of approximately 2,750 carats of rough diamonds for tender this quarter, raising the total to around 5,276.91 carats due to prior deliveries. The company is pleased with current recovery rates and processing upgrades, with phase two improvements expected to be completed in H1 2022. Additionally, Diamcor is enhancing its standby power systems to mitigate load-shedding issues in South Africa, with a focus on potential solar power integration, expected to lower operating costs and carbon footprint.
Diamcor Mining Inc. (OTCQB:DMIFF) reported significant results from its initial tender and sale of rough diamonds, generating USD $483,422.14 from 2,516.91 carats sold, averaging USD $192.07 per carat. The company anticipates two more tenders this quarter at Koin International's Dubai facilities. Additionally, the expiry date for amended warrants has been accelerated to November 20, 2021, due to the company's share price exceeding $0.375 for 10 consecutive days. The company maintains a strategic alliance with Tiffany & Co. for diamond sales from its Krone-Endora at Venetia Project.
Diamcor Mining Inc. announced the delivery of 2,521.17 carats of rough diamonds for its first tender of the quarter ending December 31, 2021, maintaining expectations. This tender follows the recent phase one upgrades at the Krone Endora at Venetia Project, with plans for further upgrades ongoing. The company projects improved operational efficiencies and cost reductions. Additionally, Diamcor will participate in the LD Micro Main Event conference from October 12-14, 2021, presenting growth plans and engaging with stakeholders.
Diamcor Mining Inc. (OTCQB:DMIFF) has successfully completed its Phase One upgrade at the Krone Endora at Venetia Project ahead of schedule, enabling a projected 100% increase in processing volumes and reduced operating costs. The upgrades enhance diamond recovery and support future expansions, including Phase Two upgrades set to begin by year-end 2021, which will add high throughput X-ray technology. Additionally, the company plans further exploration in 2022 to assess the broader project area. This milestone supports Diamcor's long-term growth strategy.
Diamcor Mining Inc. announced the early completion of the first phase of upgrades at its Krone Endora at Venetia Project, designed to potentially double processing volumes. Key enhancements include new materials handling, expanded diamond concentration systems, and a new electronic diamond x-ray recovery unit. The upgrades also aim to reduce water and power consumption. CEO Dean Taylor praised the operational team's efforts amidst the COVID-19 pandemic. These upgrades are seen as foundational for future enhancements aimed at boosting throughput and recovery rates.
Diamcor Mining Inc. (TSX-V.DMI / OTCQB-DMIFF) reported significant results from its latest diamond sales during August 2021, achieving gross revenues of USD $1,023,842.11 from 4,330.24 carats sold at an average price of USD $236.44 per carat. The company noted strong demand for its diamonds, including larger gem-quality stones, and highlighted an ongoing project upgrade aimed at increasing processing capacity by up to 100%. CEO Dean Taylor expressed optimism about future sales despite lower volumes due to the COVID-19 pandemic.
Diamcor Mining Inc. (DMIFF) reported strong results from its rough diamond sales in July 2021, totaling 2,989.54 carats with gross revenues of USD $744,085.44.
The average price per carat reached USD $248.90, with a notable second sale generating an average of USD $330.67 per carat. The company continues to see demand that meets or exceeds expectations. CEO Dean Taylor highlighted plans for processing upgrades to potentially double operational capacity before September 30, 2021.
Diamcor Mining Inc. (DMIFF) announced the approval of warrant repricing and expiration extension by the TSX Venture Exchange on August 6, 2021. This follows a prior announcement on June 4, 2021. The company has a strategic alliance with Tiffany & Co., allowing Tiffany to purchase up to 100% of future rough diamond production from the Krone-Endora at Venetia Project. Diamcor's Krone-Endora Project is adjacent to De Beers' Venetia Diamond Mine, with identified deposits that could enable low-cost mining operations.
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