the cork
3 years ago
Diamcor Increases Revenues to USD $1.2M in First Quarter of New Fiscal Year
KELOWNA, June 15, 2021 – Diamcor Mining Inc. (TSX-V.DMI / OTCQB-DMIFF), (“Diamcor” or, the “Company”) today announced its results from the ongoing tender and sales of rough diamonds to date in the Company’s first quarter ending June 30, 2021. The rough diamonds recovered from the processing of quarry material underway at the Company’s Krone Endora at Venetia Project (the “Project”) continued to achieve strong dollar per carat averages throughout the quarter, and continued to deliver larger gem quality rough diamonds in the special category (+10.8 carats).
Despite ongoing COVID-19 restrictions limiting processing capacity in the quarter, the Company sold a total of 4,468.04 carats, generating gross revenues of USD $1,208,106, resulting in a combined average price of USD $270.39 per carat. Approximately 1,500 additional carats, including several rough diamonds in the +10.8 specials category, have been delivered as of the date of this release. These, along with the rough diamonds recovered to the end of June 2021, will be recorded as stock on hand at the end of the period and offered in the Company’s upcoming Q2 tender and sales.
Highlights:
2,122.76 carats of rough diamonds were tendered and sold in an initial offering, generating gross revenues of USD $591,733, for a combined average price of USD $278.78 per carat.
599.72 carats of rough diamonds were tendered and sold in a second offering, generating gross revenues of USD $183,808, for a combined average price of USD $306.49 per carat.
1,745.56 carats of rough diamonds tendered and sold in a third offering, generating gross revenues of USD $432,566, for a combined average price of USD $247.81 per carat.
“These results continue to demonstrate our ability to achieve strong dollar per carat averages and to generate significant gross revenues, while currently processing material at lower volumes due to the global Pandemic”, stated Mr. Dean Taylor, Diamcor CEO. “With industry experts widely reporting on the current and potential long-term shortage of rough diamonds, we are very well positioned to take advantage of this trend through our planned increase in processing volumes.”
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is a publicly traded company which is listed on the New York Stock Exchange under the symbol TIF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
About Krone-Endora at Venetia
In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project.
The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. The deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source.
Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.
On behalf of the Board of Directors
Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com
For further information contact:
Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212
Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 757-7179
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
WE SEEK SAFE HARBOUR
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this releas
http://www.diamcormining.com/investors/news/index.php?content_id=355
the cork
3 years ago
Diamcor Resumes Expansion Plans to Increase Processing Volumes
KELOWNA, May 27, 2021 – Diamcor Mining Inc. (TSX-V.DMI / OTCQB-DMIFF), (“Diamcor” or, the “Company”) (.1248) today announced it is proceeding with the expansion of processing facilities at the Company’s Krone Endora at Venetia Project (the “Project”). The Company originally targeted the expansion for 2020; however, due to the events surrounding the COVID-19 pandemic and associated public health restrictions implemented in South Africa, those plans were intentionally delayed in an effort to lower expenses and capital expenditures during that time. The Company’s Chief Operating Officer, Dr. Kurt Petersen, has outlined a strategy based on an extensive ongoing evaluation of the Project’s heavy equipment fleet, operations, processing plants, final recovery systems, mineral resource management and rehabilitation commitments.
The expansion is targeted to take place in two phases. The first phase will be aimed at doubling the current processing volumes in the near-term, with the second aimed at finalizing the Project’s mining and processing scheme to significantly enhance long-term processing volume capabilities as part of the Company’s overall long-term mineral project management strategy. These plans are not expected to affect the on-going processing efforts currently underway. The initial phase will consist of a new final x-ray recovery process aimed at increasing diamond recovery efficiencies, and additional processing equipment to improve bulk materials reduction. Planned completion for this initial phase is prior to the end of the Company’s second quarter ending September 30, 2021.
A second larger phase will focus on completing the groundwork necessary for future expansion capabilities. The Company plans to consolidate its current facilities to further increase throughputs, reduce the overall processing footprint and unit costs, and minimize environmental disturbance. Additional heavy equipment will also be added if required to support these objectives. This overall strategy will be supported by the parallel activities of drilling and bulk sampling of prospective target areas of the Project, which is scheduled to commence prior to the end of 2021.
“We are very pleased with this blueprint for expansion completed by our team”, stated Mr. Dean Taylor, Diamcor CEO. “The expansion and further refinement of our facilities is simply a continuation of our pre-COVID-19 plans to support future growth, with the two-stage approach designed to increase volumes and revenues in the near-term, with the goal to fund our planned expansion through increased cash flow”.
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world-famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
About Krone-Endora at Venetia
In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. The deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.
On behalf of the Board of Directors
Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com
For further information contact:
Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212
Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
WE SEEK SAFE HARBOUR
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
http://www.diamcormining.com/investors/news/index.php?content_id=352
the cork
3 years ago
Diamcor Continues to Achieve Strong Dollar Per Carat Results in the First Tender and Sale of its New Fiscal Year
KELOWNA, April 22, 2021 – Diamcor Mining Inc. (.1032) http://www.diamcormining.com/
(TSX-V.DMI / OTCQB-DMIFF), (“Diamcor” or, the “Company”) today announced its results from the tender and sale of rough diamonds recovered from the processing of quarry material at the Company’s Krone Endora at Venetia Project (the “Project”). The results reconfirmed the potential for increased average dollar per carat values from the operational and processing refinements made by the Company, and from the recovery of larger gem quality rough diamonds in the special category (+10.8 carats).
In the Company’s first offering of its new fiscal year starting April 1, 2021, the Company tendered and sold 2,122.76 carats.
Highlights:
The total combined rough diamonds tendered and sold was 2,122.76 carats, generating initial gross revenues for the quarter of USD $591,733, resulting in a combined average price of USD $278.78 per carat.
Of the total, 1,879.87 carats of rough diamonds were tendered and sold in Dubai UEA, generating gross revenues of USD $564,189, resulting in an average price of USD $300.12 per carat for these rough diamonds.
The Dubai UEA tender and sale include two rough diamonds in the specials (+10.8 carats) category, a 12.87 carat gem quality rough diamond, and an 11.13 carat rough diamond.
Of the above total, 242.89 carats of run of mine rough diamonds were sold to the South African State Diamond Trader, for gross revenues of USD $27,584, resulting in an average price of USD $113.57 per carat for these rough diamonds.
In addition to the above total rough diamonds tendered and sold, approximately 1,000 additional carats of rough diamonds, including two rough diamonds in the +10.8 specials category, a unique 14.09 carat square/cube gem quality rough diamond and a 16.13 carat rough diamond, were also delivered and will be included in the Company’s next tender and sale.
The size and quantity of special rough diamonds in this sale and tender, and those to be offered in the Company’s upcoming tender, are not seen as uncommon for the Project, which continues to demonstrate its potential to generate excellent dollar per carat results and revenues from processing quarry material.
Additional Highlights:
The average dollar per carat achieved for the balance of the 2,122.76 carats of rough diamonds tendered and sold, excluding the noted gem quality 12.87 carat diamond, continued to remain strong, as in previous recent tender and sales, at USD $234.73 per carat.
Overall demand and pricing in a majority of the rough diamond assortments tendered and sold by the Company continued to meet expectations, with the exception of some slight weakness in lower quality smaller goods.
“We are pleased with these excellent results, which are further confirmation of our ability to achieve strong dollar per carat and gross revenue numbers while continuing to operate on lower volumes due to the global Pandemic”, stated Mr. Dean Taylor, Diamcor CEO. “Despite continuing to operate on a reduced basis to stringently manage costs, our ongoing planning and preparations to increase processing volumes remains a key focus.”
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is a publicly traded company which is listed on the New York Stock Exchange under the symbol TIF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
About Krone-Endora at Venetia
In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. The deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.
On behalf of the Board of Directors
Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com
For further information contact:
Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212
Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
WE SEEK SAFE HARBOUR
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
http://www.diamcormining.com/investors/news/index.php?content_id=351
the cork
3 years ago
Beats the heck out of me LoL All I know is, they've been dormant for a year because of the china virus, so of course the share price tanked.
Now they're just stating up production again, so we should be seeing some excitement once the PR's begin to flow. They were between .25 and .30 not THAT long ago, so there's no reason to believe they shouldn't be able to achieve those numbers again, all things being equal (which of course they never are LoL!).
Good signs:
* They've had two (2) revenue producing sales of diamonds in the last month.
* They just hired an investor relations firm, presumably to deal with the anticipated incoming flow of investors.
* The fact that they are producing diamonds NOW with an outstanding share count of only 65.3 million shares is a pretty big deal because there's no immediate need to dilute further to get to revenue producing status.
* The Tiffany Alliance gives Diamcor a certain "sex appeal" the others just don't have.
That, and I've wanted a diamond producer for a long time now (just to cover that asset class), and these guys check most of my boxes, so to speak.
That's why I like 'em !
the cork
3 years ago
NEWS RELEASE - Diamcor Announces Final Results of Tender and Sale
Achieves Average USD $298.97 Per Carat in February Sale
KELOWNA, February 11, 2021 – Diamcor Mining Inc. (TSX-V.DMI / OTCQB-DMIFF), (“Diamcor” or, the “Company”) http://www.diamcormining.com/ today announced the final results of the Company’s second tender and sale of rough diamonds recovered from the processing of quarry material since resuming operations as announced on January 25, 2021. These results again demonstrate the potential for increased average dollar per carat values from the operational and processing refinements made by the Company.
The Company’s second tender and sale of rough diamonds held in Dubai UEA was completed during the first week of February 2021.
Highlights:
A total of 2,028.33 carats of rough diamonds recovered from the processing of quarry material were tendered and sold, generating gross revenues of USD $606,415, resulting in an average price of USD $298.97 per carat.
The tender and sale include two rough diamonds in the specials (+10.7 carats) category:
One 10.70 carat gem quality diamond typical of historical specials recovered
One 14.16 carat gem quality diamond of exceptional quality
The size and quantity of special rough diamonds in this sale and tender are not seen as uncommon for the Project and are consistent with size frequency distribution expectations when processing quarry material.
The average dollar per carat achieved for the balance of the rough diamonds tendered and sold, excluding the noted exceptional 14.16 carat diamond, was USD $233.71 per carat.
Overall demand and pricing in a majority of the rough diamond assortments tendered and sold by the Company in February continued to trend upwards.
“We are very pleased with the results of this tender and sale of rough diamonds”, stated Mr. Dean Taylor, Diamcor CEO. “The higher average dollar per carat achieved reflects improved recoveries throughout the entire size frequency distribution and provides further confirmation of both the potential and quality of the Project’s deposits, and the effectiveness of the refinements made by our new operational team.”
The Company’s efforts to further increase processing volumes starting in February 2021 as previously noted on January 25, 2021 is now underway. Planned operational refinements to achieve this goal were completed on time and are being commissioned over the coming weeks. Once these commissioning efforts are completed, the Company will provide a further update.
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is a publicly traded company which is listed on the New York Stock Exchange under the symbol TIF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
About Krone-Endora at Venetia
In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. The deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.
On behalf of the Board of Directors
Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com
For further information contact:
Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212
Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179
This press release contains certain forward-looking stateme ...
http://www.diamcormining.com/investors/news/index.php?content_id=350
the cork
3 years ago
DMIFF (.084) Diamcor Retains Integrous Communications
KELOWNA, BC, February 8, 2021 - Diamcor Mining Inc. (TSX-V.DMI / OTCQX-DMIFF), (“Diamcor”, or the "Company") is pleased to announce it has retained Integrous Capital Partners, LLC, DBA Integrous Communications (“Integrous”) as its investor relations advisor.
"We are excited to have restarted operations and look forward to growing our investor reach,” stated Dean Taylor, President and CEO of Diamcor. “As one of the most experienced teams in our space, we selected Integrous as advisor. Their depth of relationships and sector expertise provides us with the best-in-class support to now communicate our operational progress at our Krone-Endora project and creation of shareholder value."
Integrous will assist Diamcor with communicating its corporate, financial and investor developments to current shareholders and prospective investors, while enhancing awareness of the Company's story within the capital markets. Rich Matthews, Managing Partner at Integrous, will assist the Company with investor contact going forward.
"We are pleased to be partnering with Diamcor as communications advisor," stated Rich Matthews, Managing Partner at Integrous Communications. "Diamcor has successfully restarted operations following global shutdowns experienced due to the COVID-19 pandemic. Recent success in rebuilding the operational team, restarting production facilities, and resulting sales of rough diamonds provides perfect timing to expand awareness. We look forward to assisting Diamcor with all aspects of its corporate communications and investor relations initiatives."
Integrous has been retained under a consulting agreement (the “Agreement”) to provide corporate communications and investor relations initiatives to the Company for a period of 12 months beginning February 1, 2021. Under the terms of the Agreement, the Company will pay US$10,000 per month from its general working capital and will grant 300,000 options to Integrous to purchase Class “A” Common Shares in the capital of the Company at a price of $0.15 per share. The options will vest in accordance with the TSX Venture Exchange vesting requirements as follows: 75,000 options may be exercised on May 1, 2021, 75,0000 options may be exercised on August 1, 2021, 75,000 options may be exercised on November 1, 2021, and subject to the terms of the agreement and the renewal provision, 75,000 options may be exercised on February 1, 2022. All options will expire three years from the date of issue, and all options exercised will be subject to the required hold periods pursuant to applicable securities laws and TSX Venture Exchange policies. The Company and Integrous have acted at arm’s length prior to entering into the Agreement. The compensation payable to Integrous under the Agreement is solely on a fee for service basis.
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.
About Integrous Communications
Integrous Communications is an independent investor relations consulting firm providing a single-source-solution for financial, corporate governance, applied technology, and integrated corporate communications services. Integrous serves both domestic and international clients, including companies listed on the U.S., Canadian, Australian and European exchanges. Integrous is a promissory note holder associated to Diamcor’s private placement which closed in December of 2020.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is a publicly traded company which is listed on the New York Stock Exchange under the symbol TIF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
About Krone-Endora at Venetia
In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. The deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.
On behalf of the Board of Directors
Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com
For further information contact:
Mr. Dean H. Taylor
Diamcor Mining Inc
Info@Diamcor.com
+1 250 862-3212
Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179
http://www.diamcormining.com/investors/news/index.php?content_id=349
the cork
3 years ago
DIAMCOR ANNOUNCES RESULTS FROM RESUMED OPERATIONS
Delivers 4,174 Carats of Rough Diamonds for Tender and Sale
January 25, 2021
KELOWNA, January 25, 2021 – Diamcor Mining Inc. (TSX-V.DMI / OTCQB-DMIFF), (“Diamcor” or, the “Company”) is pleased to provide an update on the resumption of operations following the required suspension lasting for the majority of 2020 due to the unprecedented events associated with COVID-19. The Company is making considerable progress increasing processing volumes, diamond recoveries, and revenues since resuming operations.
From December 2020 through January 20, 2021 the Company had delivered 4,174.36 carats of rough diamonds for tender and sale.
Highlights:
Tailings processed during the processing plant initial restart optimization yielded 666.75 carats of rough diamonds generating gross revenues of USD $79,000 equivalent to USD $118.49 per carat.
The subsequent processing of quarry material has now resumed, and 1,452.73 carats of rough diamonds from initial exercises were tendered and sold generating gross revenues of USD $266,705, resulting in an average price of USD $183.59 per carat.
An additional 2,054.88 carats of rough diamonds from the processing of quarry material were also delivered as of January 20, 2021, which are scheduled to be tendered and sold in Dubai in early February.
“We are very pleased with the results and progress being made after the first few weeks of resuming operations”, stated Mr. Dean Taylor, Diamcor CEO. “Our strong start in 2021 is due to our new operations team which has worked diligently and safely to deliver superior results in a relatively short period of time. With operations once again established, our team will focus on increasing processing volume by executing the extensive optimization plan completed prior to suspension of operations in March of 2020. We look forward to providing an update on our upcoming processing improvements and the results of the second Dubai tender in the coming weeks.
The Company is targeting a further increase in processing volumes starting in February 2021 with the commissioning of several planned operational refinements.
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is a publicly traded company which is listed on the New York Stock Exchange under the symbol TIF . For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
About Krone-Endora at Venetia
In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. The deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.
On behalf of the Board of Directors
Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com
For further information contact:
Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc
Deant@diamcor.com
+1 250 864 3326
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
WE SEEK SAFE HARBOUR
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Diamcor Mining Inc.
#630 - 1620 Dickson Avenue
Kelowna, BC, V1Y 9Y2
http://www.diamcormining.com/investors/news/index.php?content_id=348
the cork
3 years ago
DMIFF .08 - South African Diamond producer - 65 million shares outstanding, in mothballs while china virus protocols in place.
http://www.diamcormining.com/
Scheduled to resume operations last month (Dec) but haven't heard anything about that yet.
"The company intends to resume these payments in conjunction with the resumption of operations at its Krone-Endora at Venetia project, in South Africa, in December." from 12-1 2020 PR linked below. https://www.miningweekly.com/article/diamcor-mining-remains-focused-despite-covid-19-impacts-2020-12-01
From same PR, these guys are clearly capable of producing.
"In total, ongoing trial mining exercises at the project from inception through to September 30 have resulted in the incidental recovery, tender and sale of 15,631 ct of rough diamonds, generating revenue of $25.9-million, resulting in an average of $165.84/ct."
They'd just got their heavy equipment when the china virus hit. http://www.diamcormining.com/
Presumably once they start up again, this will create an economy of scale unlike anything achieved so far.
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