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Diamcor Sees Total Tender Volume Almost Doubling in Third Quarter
Dec 7, 2015 12:22 PM
By Rapaport News
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RAPAPORT... Diamcor Mining reported its total tender of rough recovered
from its Venetia project in South Africa will almost double in the third fiscal
quarter compared with the second quarter.
The company plans
to tender about 9,480 carats in the three-month period ending December 31, compared
with 4,845.93 carats it put up for bids and sold in the second fiscal quarter,
it said in a statement December 2.
Diamcor has sold 6,859 carats from Venetia in the first two tenders at an
average price of $118.59 per carat, and about 2,625 carats have been prepared for
another bid this month. Any more stones found
before the end of December will be recorded at the end of the fiscal quarter as
rough inventory and likely put up for sale by the end of March.
Meanwhile, Diamcor is waiting for an approval from South Africa’s Department
of Water Affairs to add more water boreholes, the statement said. That
will increase processing volume and optimize the screening and treatment
plants.
In addition
to the ongoing processing of materials in the +1.0mm to -26mm size fractions
completed to date, the company expects the processing of the previously
stockpiled materials in the +26.0mm will commence in the coming weeks, allowing
it to handle bigger-size materials.
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Tags:
diamcor, mining, Rapaport News
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