Production Drop Hits Diamcor Sales

RAPAPORT… Diamcor’s sales fell in the second fiscal quarter as lower
production at its mine in South Africa resulted in reduced availability of
goods.

Revenue dropped 45% to $726,588 in the three months ending
September 30 compared to $1.3 million in the same period a year ago, the miner
reported Thursday.

Rough-diamond recovery from the Krone-Endora at Venetia
asset fell, the company said. However, the average selling price increased 62%
to $278 per carat versus $172 per carat last year as the company unearthed and
processed larger sizes, yielding a number of higher-value rough diamonds from
10.8 carats to 20 carats, it added.

Image: Sorted rough diamonds. (Diamcor)