Diamcor Mining Junior Mining Precious Metals

Diamcor Gross Revenues from Tender and Sales Increase Again in Fourth Quarter Ending March 31, 2022

KELOWNA, BC / ACCESSWIRE / April 12, 2022 / Diamcor Mining Inc. (TSX.V:DMI), (OTCQB:DMIFF), (FRA:DC3A), (“Diamcor” or, the “Company”) announced today that the Company’s gross revenues from tenders and sales held in its fourth quarter, ending March 31, 2022, increased to (USD) $1,301,978, a 21% increase over the previous quarter. Total carats sold during the fourth quarter decreased by 12% to 4,787.89 when compared to the 5,441.88 sold in the previous quarter. This, however, was largely due to the timing of tenders during the fourth quarter, and the decision by the Company in March 2022 to retain and instead offer approximately 2,000 additional carats at upcoming tenders during the current quarter. Despite the lower volume sold during the fourth quarter ended March 31, 2022, the average dollar per carat of (USD) $271.93 achieved during the period increased by 38% over the previous quarter. The increase in the average price per carat achieved during the period was primarily due to significant price increases experienced early in the quarter which appear to be due to rough diamond shortages in various categories.

Progress of Accelerated Upgrades

The Company also announces that its efforts to increase current processing volumes and efficiencies during the last quarter continued, and further results of these efforts are expected to be realised during the current quarter. The reconfiguration and installation of the Project’s X-Ray diamond sorting units and final recovery systems remained a priority during the quarter, and these efforts, along with the installation of additional screening systems now nearing completion, remain on schedule to advance the Company’s continued increases in processing volumes. These accelerated upgrades position the Company to take advantage of any potential rough diamond shortages associated with on-going international sanctions, which may impact a significant portion of the world’s rough diamonds supply originating in Russia.

Acceleration Highlights

  • Processing Volume Increases – The installation of additional screening equipment to compliment the previously completed phase one upgrades and specifically increase efficiencies in the removal of soil and clay fines at the Project’s Main Treatment Plant are now nearing completion. These refinements are expected to be operational prior to the end of April 2022 and to increase current hourly feed-rates and processing volumes by approximately 60%.
  • Water Recovery Improvements – Initial revisions to the Project’s water recovery systems aimed at supporting additional tonnages have also been completed. The construction and delivery of a larger purpose-built water recovery system continues to progress on schedule, with delivery targeted prior to the end of the current quarter. All water recovery system additions are designed to ultimately lower water consumption on a per ton basis through improvements in the recovery of wastewater, and provide the potential for further increases to processing volumes moving forward.
  • Reductions in Operating Costs on a Per Ton Basis – In addition to providing the potential to increase processing volumes, the screening upgrades are expected to provide the added benefit of lowering the Project’s operating costs on a per-ton basis by reducing consumables due to added screening efficiencies. Material handling and equipment cycle times are also expected to improve.
  • Continued Support of Further Growth – The collective upgrades completed to date have retained much of their original design and scope to ensure they continue to support the Company’s ongoing larger growth plans.
  • No Disruptions to Current Operations – The installation of the upgrades to date have been completed in conjunction with ongoing processing as envisioned, and have not caused any material disruptions to operations.

“The progress made during the quarter has strategically positioned our Company with the potential to supply quality buyers with increased volumes of rough diamonds at a time when potential shortages are anticipated moving forward,” stated Mr. Dean Taylor, Diamcor CEO.

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 owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at

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.

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc
+1 250 862-3212

Mr. Rich Matthews
Integrous Communications
+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.


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.

SOURCE: Diamcor Mining Inc.

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Diamcor Mining Energy Exclusive Interviews Junior Mining Precious Metals

Diamonds Are Forever, But The Market For Diamonds Just Underwent A Massive Change

  • Russia is the leading producer- Canada is third
  • Russia causes a dramatic change in the global diamond market
  • Mountain Province Diamonds- a top-tier company with significant scale
  • Diamcor Mining- A junior diamond miner with potential
  • A potential bottom in DMI/DMIFF shares

A diamond is a pure solid form of the element carbon with its atoms arranged in a crystal structure, a diamond cubic. At room temperature and pressure, another solid form of carbon is graphite, a chemically stable form of the element. Diamonds form under high temperatures and pressure that cause the carbon atoms to bond and form crystals.

It takes carbon up to 650 million years to become fossil fuels. Transforming carbon into a diamond takes one to 3.3 billion years, approximately 25% to 75% of the earth’s age.

Diamonds occur in greater number and quality in the ocean, but the extraction process is expensive and challenging. Ocean miners dredge the ocean floor, bring the material onto mining ships, and sift it for diamonds. Mining diamonds from the earth’s crust involves releasing igneous emplace rocks with explosives as the encased diamonds are carried up with intrusive rocks from the earth’s mantle. Most diamond mines are around one hundred miles below the earth’s surface.

Rough diamonds look like shiny pebbles. Experts cut and polish the rocks that become the centerpiece of jewelry cherished worldwide. Only 20-30% of mined diamonds have a suitable quality for jewelry; the remainder goes to industrial applications. The industrial diamonds are too badly flawed, irregularly shaped, poorly colored, or too small for gems. However, they are critical for cutting, grinding, drilling, and polishing procedures because of a diamond’s hardness and heat conductivity.

The first Soviet leader, Vladimir Lenin, once said, “There are decades where nothing happens, and there are weeks where decades happen.”

The international diamond business is experiencing that phenomenon in early 2022, courtesy of his successor.

Russia is the leading producer- Canada is third Like many commodities, diamond production occurs in regions where the earth contains minable reserves.

Source: Statista

The chart highlights that Russia has the largest diamond reserves with approximately 650 million carats, over double the country with the second-most reserves, Botswana. While diamonds are synonymous with South Africa, the nation is home to the fourth leading reserves behind Russia, Botswana, and the Democratic Republic of Congo. While the DR Congo has the third most reserves, Canada is the third-leading diamond-producing country.


As the chart illustrates, in 2020, Canada produced 17.2% of the worlds’ diamonds.

Russia causes a dramatic change in the global diamond market

On February 24, 2022, the world changed as the Russian military invaded Ukraine. President Vladimir Putin does not consider Ukraine a country but a part of Western Europe. Meanwhile, the watershed event occurred on February 4, 2022, when President Putin and Chinese President Xi signed a $117 billion trade agreement and shook hands on “no-limits” support. The Chinese-Russian alliance paved the way for Russia’s invasion of the country that the US, Europe, Canada, Australia, Japan, and allies worldwide consider a sovereign country in Eastern Europe. Russian success in Ukraine could pave the way for China’s reunification with Taiwan.

Sanctions on Russia leading to retaliatory measures are likely to choke off commodity supplies to the west. Russia is a leading producer and exporter of diamonds, oil, nickel, wheat, fertilizer, and a host of other raw materials.

The geopolitical landscape has deteriorated to the most dangerous level since World War II. War, sanctions, and trade embargos distort market prices, impacting the global supply chain and creating fundamental supply and demand imbalances. The dark cloud of war and tensions between Russia-China and the West may have a diamond lining for companies producing commodities to fill the gaps created by supply shortages and rising prices.

On February 24, the diamond market underwent a substantial change.

Mountain Province Diamonds- a top-tier company with significant scale

The DeBeers Group controls companies in the diamond mining, diamond processing, and diamond trading sectors. Still, it is the second-leading diamond company behind Alrosa, the Russian mining giant that distributed 38.5 million carats in 2021. De Beers distributed 30.78 million carats.

When most people think of diamonds, De Beers is the brand name that glistens like the stones. De Beers has been around since 1888 with South African roots. Today, the company calls London home, with the mining giant Anglo American (NGLOY)owning 85%. While price transparency in the diamond market can be opaque, prices have appreciated.


The price index rose from 204.20 in July 2020 to 230.30 in March 2022, a 12.8% increase.

Mountain Province Diamonds is a Canadian diamond producer that operates a joint venture with De Beers, owning the world’s fifth-largest diamond mine, Gahcho Kue, in Canada’s Northwest Territories. Mountain Province Diamonds also owns 100% of the Kennady North Project and explores for diamonds in the Northwest Territories through targeted drill programs with 13.6 million carat reserves and inferred resources of 7.35 million carats ten kilometers from the Gahcho Kue mine. A summary of some of the company’s other highlights includes:

  • The highest-grade diamonds in the De Beers portfolio at 1.55 carats per ton of reserves.
  • The second most favorable mining jurisdiction in Canada.
  • A commitment to sustainability through environmental stewardship.
  •  Exploration territory of 107,000 hectares of 100% owned claims/leases surrounding Gahcho Kue.

Mountain Province Diamonds traded on the TSX in Canadian dollars under MPVD.TO. The company trades in the over-the-counter market in the US under the symbol MPVDF.

Source: Barchart

As the chart highlights, MPVDF shares fell to a low of 17.41 cents in March 2020 as the global pandemic gripped markets across all asset classes. The stock has moved higher with diamond prices and production success, making higher lows and higher highs with the price at 62.83 cents on March 16, over 3.6 times higher than the March 2020 low.

Diamcor Mining- A junior diamond miner with potential

Diamcor Mining Inc. is a junior diamond mining company that identifies, acquires, and operates unique projects with “near-term production potential.”

While many people think of De Beers synonymously with diamonds, the other name that comes to mind is Tiffany & Company. Diamcor established a long-term strategic alliance and the first right of refusal with Tiffany & Co, Canada, a subsidiary of Tiffany & Co in the US, for the purchase of up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at current market prices. Tiffany & Co. provides financing for the project. Diamcor acquired the Krone-Endora at Venetia project from DeBeers. The mine is co-located directly adjacent to the De Beers Venetia Diamond Mine in the Limpopo province of the Republic of South Africa. The project is a rare eluvial deposit, a direct shift of material from the higher grounds of the Venetia Kimberlite clusters onto the lower surrounding areas of Krone-Endora. The property is approximately 500 kilometers north-northeast of Johannesburg. The Venetia mine is the world’s third-largest diamond mine and South Africa’s leading mining, accounting for over 50% of annual production.

Some of Diamcor’s highlights include:

  • Accelerated phase two of a three-phase processing upgrade to increase volumes as the demand for rough diamonds has continued to be robust.
  • Diamcor’s most recent rough diamond sale yielded an average price of over $300 per carat, a 60% increase from the December 2021 price.
  • The project has revenue flows with demonstrated profitability.
  • The project has $70 million in development to date with significant infrastructure in place and a 30-year mining right.
  • A high percentage of the project’s diamonds are gem quality and can be found just 50 feet below surface.
  • Diamond reserves are likely on 95% of the project area that has not been defined, leading to significant growth potential.

US and European sanctions will limit the number of industrial and gem-quality diamond flows from Russia, pushing prices higher and availability lower. The world will be looking for new sources, and Diamcor’s project is far enough along and positioned to meet the increasing demand.  

A potential bottom in DMI/DMIFF shares Diamcor Mining Inc trades on the TSX under the symbol DMI.VN. On the Us over-the-counter market, the symbol is DMIFF. The shares have moved appreciably higher since the late 2020 low.

Source: Barchart

As the chart highlights, DMIFF shares rose from a low of $0.046 in late December 2020 to $0.2425 on March 16, over five times higher. In October 2021, the shares peaked at 43.0 cents, over nine times higher than the late 2020 low. DMIFF returned a higher percentage gain than Mountain Province Diamonds (MPVDF) since its 2020 low.

It takes over a billion years for a diamond to form, making the stones a forever asset. Meanwhile, sanctions on Russia will limit the precious stones supplies, which could create an exciting opportunity for Diamcor, a mining company with lots of upside potential.

Written By: Andrew Hecht, on behalf of Maurice Jackson of Proven and Probable.

Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal. This document does not in any way constitute an offer or solicitation of an offer to buy or sell any investment, security, or commodity discussed herein, or any security in any jurisdiction in which such an offer would be unlawful under the securities laws of such jurisdiction.