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Diamcor Sales Spike Despite Rough Price Drop
Aug 22, 2016 3:32 AM
By Rapaport News
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RAPAPORT... Diamcor Mining’s revenue more than quadrupled in its first
fiscal quarter as increased efficiencies and processing volumes offset a
decline in rough prices.
Revenue jumped to $1.9 million (CAD 2.4 million) in the
three months that ended June 30 from $445,047 a year earlier, the South
Africa-focused miner said. The average selling price fell to $142 per carat
from $159 per carat a year earlier, mainly due to an “overall weakening” in
rough prices during fiscal 2017. The company reported a $29,991 profit versus a
loss of $550,106 a year ago.
Diamcor operates the Krone-Endora at Venetia mining project,
which it acquired from De Beers in 2008.
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Tags:
diamcor, Diamcor Mining, Krone-Endora at Venetia, Rapaport News, rough prices, South Africa
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