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Diamcor 1Q Sales Decline
Jul 11, 2017 2:30 AM
By Rapaport News
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RAPAPORT... Diamcor Mining’s rough-diamond revenue fell 3% to $1.9
million in the first fiscal quarter due to a drop in sales volume.
The company, which sources rough from its Krone-Endora at
Venetia mining project in South Africa, saw sales by weight slide 38% to 8,319
carats in the three months ending June 30, according to a statement Monday. The
average selling price rose 56% to $223 per carat, as the tenders included
larger diamonds than a year ago after an expansion in the company’s mining
facilities.
Revenue came from three sales during the quarter. A tender
in April fetched $810,106 for 2,901 carats at an average price of $279 per
carat. Another sale in May garnered $702,636 from 3,265 carats, with the
average price standing at $215 per carat. The most recent tender, in June,
achieved proceeds of $338,381 from 2,153 carats, resulting in an average price
of $157 per carat. |
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Tags:
diamcor, Diamcor Mining, Krone-Endora at Venetia, mining, Rapaport News, Rough Diamonds, rough sales, South Africa
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