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Base Metals Diamcor Mining Junior Mining

Diamcor Recovers 72.53 Carat Gem Quality Diamond and Reports Initial Tender and Sales for the Quarter

KELOWNA, BC / ACCESSWIRE / February 21, 2023 / Diamcor Mining Inc. (TSXV:DMI)(OTCQB:DMIFF)(FRA:DC3A), (“Diamcor” or, the “Company”) is pleased to announce the recent recovery of a 72.53 carat gem quality rough diamond and reports the initial sale of 1,466.12 carats of rough diamonds during the current quarter from the processing of quarry material at the Company’s Krone-Endora at Venetia Project (the “Project”). The sale of the 1,466.12 carats of rough diamonds generated gross revenues of USD $294,696.73, resulting in an average price of USD $201.00 per carat. The 72.53 carat gem quality special rough diamond recovered by the Company is currently being offered for tender and sale in Dubai and is expected to offset the lower than expected total carats sold in the initial sale of the quarter. Additional rough diamonds recovered to date during the period are being held as stock on hand for later tender and sale.

Highlights

  • Initial Tender and Sale of Rough Diamonds. The total number of carats of rough diamonds initially tendered and sold in the current quarter at 1,466.12 was lower than anticipated due to widely reported increases in daily load-shedding / power outages throughout South Africa. The Company recently announced it is in advanced discussions on objectives aimed at reducing the impact of this load-shedding for the long-term.
  • Strong Average Dollar Per Carat Continues. With the Project’s high percentage of gem quality diamonds to date, the average dollar per carat continued to remain in line with Company expectations and achieved a strong average dollar per carat of USD $201.00.
  • Recovery of Large Gem Quality Rough Diamond. The recovery of a 72.53 carat diamond, another large gem quality rough diamond in the Specials category (+10.8 carats), continues to confirm the potential for these types of large rough diamonds to be recovered from the Project’s deposits and provide a positive impact to gross revenues.
  • Current Rough Diamond Recovery. The Company recovered approximately 1,500 carats of rough diamonds during this period which are currently being held as stock on hand. These rough diamonds, along with additional rough diamonds recovered prior to March 31, 2023, will either be tendered and sold in the quarter’s final tender and sale, or held as stock on hand at the end of the current period, and tendered in the Company’s next quarter.
  • Advanced Discussions on Procurement and Installation of Power Systems. The Company’s operational team has operated this past year within the constraints of the well documented power supply issues in South Africa with the objective to find the right solution to mitigate the impact load-shedding has had on the Project. The Company is in advanced stages of discussions on procurement and the installation of back-up power systems. Details will be provided in the coming weeks once finalized.

“The recovery of yet another larger gem quality 72.53 carat rough diamond demonstrates the Project’s continued potential to contain these higher value rough diamonds even while operating below the Project’s processing capacity,” stated Mr. Dean Taylor, Diamcor CEO. “I am confident the implementation of the power supply back-up systems will provide improved power consistency needed for the processing plant to reach its designed potential.”

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 now 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 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) ofmaterial 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 very low-cost mining 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.

SOURCE: Diamcor Mining Inc.

Categories
Diamcor Mining Junior Mining

Diamcor Reports Fiscal Third Quarter 2022 Results

KELOWNA, BC / ACCESSWIRE / February 16, 2023 / Diamcor Mining Inc. (TSXV:DMI)(OTCQB:DMIFF)(FRA:DC3A), (“Diamcor” or, the “Company”) today reported the results of its interim quarterly financial statements and related management discussion and analysis for the quarter ended December 31, 2022.

Fiscal Third Quarter 2022 Highlights

  • Tender and sale of 8,327.58 carats of rough diamonds during the period, a 120% increase quarter over quarter and a 53% increase relative to fiscal Q3 2021, generating revenue of (USD) $2,054,248.33 resulting in an average price of (USD) $246.68 per carat.
  • The Company recorded a net loss of $386,619 as compared to net income of $1,016,568 in the previous interim period ended September 30, 2022, and a net loss of $939,916 in fiscal Q3 2021.
  • Inconsistent power, the result of load shedding by national power supplier Eskom in South Africa, continued to have a direct impact on the Company’s processing plant operations. The Company is currently in the late stages of finalizing an agreement with a third party to install additional power back-up systems with an aim to reduce the long-term impact of the national power supply’s future load shedding. These back-up system additions will also include power conditioning equipment to improve power supply quality and variability, and thus have the potential of lowering maintenance costs.
  • In total, ongoing trial mining exercises at the Company’s Krone-Endora at Venetia project from inception thru December 31, 2022, have resulted in the incidental recovery, tender, and sale of 194,969.18 carats of rough diamonds generating revenue of (USD) $36,247,542.60, resulting in an average price of (USD) $185.91 per carat.
  • The management of operational salary and wages expenses, variable operational costs, and historical fixed costs continued to be a focus during the period.

“We are very pleased with the progress we have made at the Project in addressing the well documented issues surrounding the national power supply in South Africa,” stated Mr. Dean Taylor, Diamcor CEO. “We look forward to realizing the impact consistent power will have on our ability to operate our processing plant to its full capacity over the long-term”.

The Company’s recently filed financial statements for the quarter ended December 31, 2022, and accompanying Management Discussion and Analysis can be viewed by interested parties on SEDAR at www.sedar.com.

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 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
DeanT@Diamcor.com
+1 250 862-3212
www.diamcormining.com

Investor Contact:
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 release.

SOURCE: Diamcor Mining Inc.

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals

EMX Intersects 17.8 Meters Averaging 4.01 g/t Gold at Its Wholly Owned Yarrol Project in Australia

Vancouver, British Columbia–(Newsfile Corp. – February 16, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to provide an update on the advancement of its 100% owned Yarrol Project in Queensland, Australia. The Yarrol Project contains zones of gold and copper mineralization in addition to areas with cobalt-enriched manganese oxide mineralization and heavy mineral sands deposits (see Figures 1 and 2). A recently executed reconnaissance drill program targeted all three styles of mineralization. Analytical results from a drill hole in the core of the historically defined zone of gold mineralization are highlighted by an intercept of 17.8 meters averaging 4.01 g/t gold from 61 meters in drill hole DD22-YA1871 (see Figure 3). A second hole (DD22-YA188) intersected multiple intervals of gold mineralization including 12 meters at 0.91 g/t gold from 92 meters (see Figure 4)1. These holes were intended to confirm the nature of the gold mineralization that have been historically mined and explored at Yarrol. It is notable that the selected sample intervals from both drill holes began and ended in gold mineralization2, and additional intervals will be sampled and analyzed from both holes.

Drill holes DD22-YA187 and DD22-YA188 were drilled as part of a 15 hole program, with two deeper core holes in the zones of gold mineralization and 13 shallow diamond and air core holes targeting the manganese-cobalt mineralization and mineral sands. EMX expects to receive additional analytical results for the manganese-cobalt mineralization and mineral sands deposits in the coming weeks. Results from those drill holes will be discussed in a separate disclosure.

The Yarrol Project is currently available for partnership, in accordance with the royalty generation aspect of EMX’s business model.

Yarrol Project. The 55,900 Ha Yarrol Project is located between EMX’s Queensland Gold project and Evolution Mining’s Mt Rawdon gold mine, and is positioned along the regional scale Yarrol Fault zone. Several other historical mines and active exploration projects also lie along the Yarrol Fault structural trend.

Yarrol was the site of historical gold mining activities in the 1800’s through the 1930’s, with historical gold production averaging ~10 g/t.3 Further exploration and assessments conducted in the 1980’s and 1990’s led to the definition of two historical gold resources (see notes regarding the historical mineral resources below). Gold mineralization at Yarrol is present as quartz sulfide veins and zones of silicification developed in and around Permian-aged dioritic intrusions as confirmed in holes DD22-YA187 and DD22-YA188.

In late 2021, while conducting exploration programs to expand the known zones of gold mineralization, EMX geologists encountered zones of cobalt-enriched manganese oxide mineralization on the northern side of the Project area. This led to an expansion of the land position, as well as new exploration programs targeting the manganese and cobalt mineralization. Surface sampling programs demonstrated that the zones of manganese oxide mineralization encountered in the field consistently averaged over 1% cobalt, accompanied by enrichments in both nickel and copper (see EMX news release dated January 4, 2022).

Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

Comments on Sampling, Assaying, and QA/QC. EMX’s drill and surface samples were collected in accordance with accepted industry standards and best practices. The samples were submitted to ALS Laboratories in Brisbane for sample preparation and analysis. Gold was analyzed by Au_AA24 fire assay and AAS (50 g nominal sample weight) method, and multi-element analyses were performed by an ME-MS61 method combining a four-acid digestion with ICP-MS finish. As standard procedure, the Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, and field duplicates.

Comments on Historical Mineral Resources at Yarrol and Nearby Mines and Deposits. The historical mineral resources at Yarrol were reported in 2010 by MGT Mining Ltd, which was a publicly traded Australian company at the time of publication. EMX has not done sufficient work to verify the historical resources.

The nearby mines and deposits in the region provide geologic context for EMX’s Project, but this is not necessarily indicative that the Project hosts similar mineralization.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@emxroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@emxroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@EMXroyalty.com

Neither the 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.

Forward-Looking Statements

This news release may contain “forward-looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserve and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2022 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2021, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

Figure 1. Location map for Yarrol Project

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/1508/154983_8712c09ff47e38fd_002full.jpg

Figure 2. Geological Maps and Drill Hole Locations

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/1508/154983_8712c09ff47e38fd_003full.jpg

Figure 3. Cross Section Through DD22-YA187

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/1508/154983_8712c09ff47e38fd_004full.jpg

Figure 4. Cross Section Through DD22-YA188

To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/1508/154983_8712c09ff47e38fd_005full.jpg

1 True widths remain unknown, but are estimated to be in the 50-75% range of the reported drilled interval. The interval was calculated assuming a cutoff of 0.5 g/t gold.
2 Mineralization being defined as samples containing > 0.1 g/t gold.
3 Independent Geological Report for MGT Mining Ltd, 2010. https://www.nsx.com.au/ftp/news/021723444.PDF. EMX has not performed sufficient work to verify historical sample results and production figures, however, from EMX’s field reviews of the Yarrol property, these data are considered to be reliable and relevant.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154983

Categories
Base Metals Emx Royalty Junior Mining Precious Metals Project Generators

EMX Royalty Provides an Update on the Diablillos Royalty Property in Argentina

Vancouver, British Columbia–(Newsfile Corp. – January 19, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to provide an update on advances at the Diablillos royalty property (the “Royalty Property” or “Property”) in Argentina. The Diablillos silver-gold project is being advanced by AbraSilver Resource Corp. (“AbraSilver”). EMX’s interest in the Property consists of a 1% net smelter return (“NSR”) royalty and a pre-production payment.

AbraSilver’s ongoing 15,000 meter, Phase III diamond drill program continues to expand and delineate the Southwest Zone (JAC target) discovery with near-surface, high-grade oxide intercepts such as 40 meters averaging 203 g/t silver starting at 114 meters in hole DDH-22-060, and 103 meters averaging 139 g/t silver starting at 65 meters and including 9.0 meters averaging 477 g/t silver and 0.23 g/t gold in hole DDH-22-061 (see AbraSilver news release dated December 15, 2022)1. The Southwest Zone (JAC) provides significant exploration upside to increase the mineral resources of the Property.

The JAC target is located along trend to the southwest of Oculto resource deposit, which had been the previous focus of exploration. AbraSilver announced an updated mineral resource estimate for Oculto reported at a 35 g/t silver equivalent2 cutoff that included measured and indicated resources of 51.3 Mtonnes averaging 66 g/t silver (109 Moz contained Ag) and 0.79 g/t gold (1.3 Moz contained Au) in Q4 of 2022.3 AbraSilver expects a maiden mineral resource estimate for the Southwest Zone (JAC) in the first half of 2023.

The Diablillos Royalty Property provides an example of an EMX royalty acquisition with significant exploration and development optionality resulting from early-stage advancements by the project operator. These advancements create value at no additional cost to EMX. The high-grade nature of the mineralization and exploration potential of multiple targets are particularly compelling upside aspects of the Property.

Commercial Terms Summary (all dollar amounts in USD). The royalty and payment obligations due to EMX are per an agreement originally between SSR Mining and AbraSilver, with EMX acquiring SSR Mining’s interests in 2021 (see EMX news releases dated July 29, and October 21, 2021). EMX’s 1% NSR royalty is uncapped and cannot be bought down. A payment to EMX of $7 million will be due in 2025, or upon commencement of commercial production, whichever comes first.

Royalty Property Summary. Diablillos is a high-sulfidation epithermal silver-gold project located in the Puna region of Salta Province, Argentina. Mineralization is hosted in Tertiary volcanic and sedimentary rocks. As a precursor to the current Phase III program, AbraSilver’s 20,000 meter, Phase II drill program (completed in 2022) resulted in: a) multiple, near-surface high-grade silver-gold (Ag-Au) intercepts, b) expansion of the mineralized zones at Oculto, c) in-fill of Oculto’s high grade Tesoro Zone, and d) the discovery of the Southwest Zone’s JAC target from a 500 meter step out reconnaissance hole.4 Phase II select intercepts reported by AbraSilver are summarized in the table below.5

ZoneHole IDFrom (m)To (m)Interval (m)Ag g/tAu g/t
Oculto Northeast21-06486147611400.71
Oculto Northeast21-06724230866571.90
Oculto Southwest21-06889146571081.47
Oculto Southwest22-00584151.567.51571.95
Tesoro21-038112221.3109.3176.81.53
Tesoro22-0041312711402191.17
Tesoro22-015131.5157.5262,3580.36
Tesoro22-037712261551851.48
Southwest (JAC)22-01989176873460.15

According to AbraSilver, a number of these intercepts are among the best drill results reported for primary silver projects over the last two years.6 Furthermore, the JAC discovery and Oculto Northeast Zone combine to extend the total strike length of gold-silver mineralization to over two kilometers, which remains open for further expansion.

The Oculto open pit constrained mineral resource update was reported at a 35 g/t silver equivalent cutoff for oxide and transition material as:7 (refer to AbraSilver’s November 3, 2022 news release and Technical Report):

  • Measured of 19.3 Mtonnes averaging 98 g/t silver (60.6 Moz contained Ag) and 0.88 g/t gold (544 Koz contained Au),
  • Indicated of 31.0 Mtonnes averaging 47 g/t silver (48.7 Moz contained Ag) and 0.73 g/t gold (752 Koz contained Au), and
  • Inferred of 2.2 Mtonnes averaging 30 g/t silver (2.1 Moz contained Ag) and 0.51 g/t gold (37 Koz contained Au).

Overall, the updated measured and indicated resources resulted in a 22% increase in contained silver and 29% increase in contained gold from the 2021 resource estimate. There was a 135% increase in measured resource tonnage compared to the 2021 estimate, all of which is in the high-grade Tesoro Zone (refer to AbraSilver’s November 3, 2022 news release). Importantly, 94% of the measured and indicated resources are oxide material, reflecting the oxidized character of Oculto to depths of 300-400 meters from surface.

AbraSilver’s ongoing Phase III drill program continues to yield high-grade oxide results at the JAC target, as well as at Oculto’s Tesoro Zone8:

ZoneHole IDFrom (m)To (m)Interval (m)Ag g/tAu g/t
Tesoro22-0451222491275061.99
Tesoro22-0432042272319390.28
Southwest (JAC)22-046123165.542.54000.11
Southwest (JAC)22-0527490.516.53890.01
Southwest (JAC)22-05295.5126.531630.23
Southwest (JAC)22-052139.5164.5257540.12
Southwest (JAC)22-057679326141–
Southwest (JAC)22-05710313835900.21
Southwest (JAC)22-057144164204990.10
Southwest (JAC)22-06011415440203–
Southwest (JAC)22-06165168103139–
including14915894770.23

According to AbraSilver, advancement of the Diablillos Property is now focused on a) Phase III drilling at the Southwest Zone’s JAC target, b) completion of the maiden resource for the Southwest Zone (JAC) in H1 2023, c) conducting PFS metallurgical testwork, and d) completing a PFS project study in H1 2023.9 In addition, follow-up on the Property’s additional targets (e.g., Fantasma, etc.) is underway.

Qualified Person. Michael P. Sheehan, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@emxroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@emxroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@EMXroyalty.com

Neither the 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.

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserve and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2022 and the year ended December 31, 2021 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2021, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

____________________________

1 True widths are approximately 80% of reported interval lengths.
2 AgEq calculated using a) metal prices (USD) of $25/oz Ag & $1750/oz Au, and b) recoveries of 73.5% for Ag & 86% for Au.
3 See AbraSilver news release dated November 3, 2022 and report titled “NI 43-101 Technical Report Mineral Resource Estimate Diablillos Project” with an effective date of October 31, 2022 and dated November 28, 2022. Qualified person is Luis Rodrigo Peralta, B.Sc. (Geo) FAusIMM, an independent Senior Resource Geologist.
4 See AbraSilver October 2022 Corporate Presentation and August 3, 2022 news release.
5 See AbraSilver news releases dated June 13, July 25, August 3, and August 22, 2022. True widths are approximately 80% of reported interval lengths.
6 See AbraSilver October 2022 Corporate Presentation.
7 Refer to AbraSilver’s 11/3/2022 news release and 11/28/2022 Technical Report.
8 See AbraSilver news releases dated September 29, October 12, November 9 & 22, and December 15, 2022. True widths are approximately 80% of reported interval lengths.
9 See AbraSilver October 2022 Corporate Presentation.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151799

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Base Metals Diamcor Mining Energy Exclusive Interviews Junior Mining

Diamcor Mining – Positioning Shareholders for a Strong 2023!

Joining us for a conversation is Dean Taylor the CEO of Diamcor Mining to share why prudent capital is in investing in the diamond space. We will also highlight the value proposition of Diamcor Mining and address operational and corporate updates for 2023.

Diamcor Mining: (TSX.V: DMI | OTCQB: DMIFF)
Website: https://www.diamcormining.com/
Contact: Mr. Rich Matthews
rmatthews@integcom.us
+1 (604) 757-7179

Press Release: https://yhoo.it/3irevzm

The Best Video on Why and When to Buy and Sell Physical Precious Metals:

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https://www.milesfranklin.com/faq-maurice/

I’m a licensed broker for Miles Franklin Precious Metals Investments, The Only Online Dealer that is Licensed and Bonded Period! Where we provide unlimited options to expand your precious metals portfolio, from:

Website| www.provenandprobable.com
Call me directly at 855.505.1900 or email: Maurice@MilesFranklin.com
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Emx Royalty Energy Junior Mining Precious Metals

Platinum price on pace for 20% quarterly gain, its biggest since 2008

Platinum price on pace for 20% quarterly gain, its biggest since 2008

Stock image.

Due to ongoing supply concerns, platinum prices have surged more than 20% over the past three months, and the precious metal is now set to experience its best quarter since the start of 2009.

On Friday, platinum prices rose another 1.0% to $1,064.50 per ounce, bringing its quarterly gain to just under 23%.

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Should the price of platinum maintain its 20% uptick, then this will will be the biggest quarterly increase since the first quarter of 2008, when it gained a staggering 34%.

According to the World Platinum Investment Council, top consumer China has imported excessive amounts of platinum metal since 2019, which has left a limited above-ground supply for the rest of the world.

“This, in combination with higher prices likely being needed to release Chinese inventories to the domestic market, could have a significant bearing on platinum market price discovery,” the Council wrote in its Platinum Perspectives report in December.

The Council is anticipating a platinum deficit in 2023, with demand growing by 19% while supply increasing by just 2%.

“Despite international economic turbulence, with many countries already in, or expected to tip into, recession, industrial demand for platinum will be up 10% compared to 2022, which exceeds the 10-year average,” the WPIC said in a press release.

Demand for platinum in the automotive industry will also continue to grow next year, while jewelry-based demand for platinum is forecasted to remain constant throughout 2023, the WPIC added.

According to Reuters data, platinum is by far the best-performing precious metal in 2022, recording a year-to-date gain of 9%. Over the same period, gold has lost around 1%, silver up around 3% and palladium down 4%.

(With files from Reuters)

Source: https://www.mining.com/platinum-price-on-pace-for-20-quarterly-gain-its-biggest-since-2008/

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Diamcor Mining Junior Mining

Diamcor Announces Results of Annual General Meeting

Diamcor Mining, Proven and Probable

KELOWNA, BC / ACCESSWIRE / December 29, 2022 / Diamcor Mining Inc. (TSXV:DMI)(OTCQB:DMIFF)(FRA:DC3A), (“Diamcor” or, the “Company”) announced today that shareholders passed each of the resolutions described in the Company’s proxy materials by the required majority of voting at the Company’s Annual General Meeting (the “AGM”) held on December 21, 2022.

The total number of votes cast for each resolution is set out in the table below.

MOTIONSNUMBER OF SHARESPERCENTAGE OF VOTES CAST
FORAGAINSTWITHHELD/ ABSTAINSPOILEDNON VOTEFORAGAINSTWITHHELD/ ABSTAIN
Number of Directors56,149,661187,685009,009,76299.67%0.33%0.00%
Dean H. Taylor55,990,6610346,68509,009,76299.38%0.00%0.62%
Darren Vucurevich55,990,5610346,78509,009,76299.38%0.00%0.62%
Sheldon Nelson56,139,2610198,08509,009,76299.65%0.00%0.35%
Dr. Stephen Haggerty56,327,311010,03509,009,76299.98%0.00%0.02%
Appointment of Auditors65,159,3510187,7570099.71%0.00%0.29%

TOTAL SHAREHOLDERS VOTED BY PROXY: 59

TOTAL SHARES ISSUED & OUTSTANDING: 122,492,174

TOTAL SHARES VOTED: 65,347,108

TOTAL % OF SHARES VOTED: 53.35%

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 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.

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 release.

SOURCE: Diamcor Mining Inc.

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Diamcor Mining Junior Mining

Diamcor: A Diamond in the Rough

Bob Moriarty
Archives
Dec 19, 2022

Since September we have had an exciting advance in the price of silver and gold along with the precious metals shares. But nothing goes up forever or goes straight up. As a result of the 37% increase in the price of silver from September 1st the DSI for silver reached a high of 88 on the 9th of December and silver seems to have topped for now at $24.11 on December 13th. A short pause would be appropriate to give the DSI a breather.

I’ve been writing about gold and silver companies lately because since September, they have been the place to be. But we are in a correction for now.

(Click on image to enlarge)

So I thought it might be appropriate to write about a resource company that is not involved with gold or silver. So here is Diamcor Mining (DMI-V). It is a Canadian company that owns and operates an alluvial diamond project right next to the biggest diamond mine in South Africa, the De Beers owned Venetia mine.

In 2008 Diamcor began the process of doing a deal with De Beers on two farms next to the Venetia Mine with a total land position of about 5900 ha. The farms are called Krone and Endora. Diamcor called the project the Krone-Endora at Venetia property, which is pretty confusing. The deal was completed with De Beers in March of 2011. Diamcor announced at the same time financing of the property through a long-term strategic alliance with Tiffany of New York. Initially Tiffany advanced $5.5 million to obtain the right of first refusal for 100% of the production from DMI at market prices. In 2012 Tiffany advanced an additional $4 million as the company advanced.

Diamcor has done a brilliant job of getting into bed with the biggest names in the business as partners. De Beers is the largest diamond cartel in the world controlling the production and sales of the vast majority of diamonds worldwide. The richest man in the world, Bernard Arnault, owns Tiffany and Company.
 
When I was presented with information about Diamcor several things popped out at me at once. Why on earth would De Beers welcome a tiny junior mining company next door to their biggest producer in South Africa and why should the owner of Tiffany finance the operation?

I’ve been to South Africa and Brazil and visited both hard rock diamond mines and alluvial. The Krone-Endora properties are alluvial. The Venetia mine is hard rock. The economics and processing of each type deposit are entirely different. Frankly De Beers has zero interest in running an alluvial diamond project with what would be limited production for them.

Likewise with Tiffany, they always need diamonds and by financing DMI they are getting right of first refusal for what wouldn’t even qualify as a rounding error on their balance sheet. And one thing I learned in my visits to diamond properties was that alluvial diamonds have traveled from the diamond pipes made up of the source material called Kimberlite after the world famous Kimberly diamond district. But as diamonds roll along with the sand and gravel of the decayed Kimberlite, the poor diamonds tend to break up leaving much lower grade material but with more valuable diamonds per carat.

Once financed Diamcor got to work building their mine and processing plant. Shares of Diamcor went from about $.12 a share in 2009 to a high of $1.90 four years later before getting caught up in the resource shares slump that ran into the end of 2015 and start of 2016. From December of 2015 the stock shot from about $.65 to a high of $1.50 by the fall of 2016.

Over the past ten years $100 million has been invested in the project. The company began test mining and were moving right along when the South African government shut down many mining operations in the country in response to the Covid-19 Plandemic. The company partially began to resume operations in October of 2020 but at a reduced 75% rates. Issues related to supply chain problems remain, however, the company has been growing revenue quarter over quarter.

Due to the high quality of the diamonds and a number of large stones above 40 carats DMI is getting about $246 per carat, more than twice the world average for stones.

Sanctions have been put on Russian diamonds that make up 30% of the world market so the price Diamcor gets should naturally increase with the reduced supply. In a press release of December 8th, 2022 DMI reported sales of over $2 million for the quarter, an increase of 121% over the carats sold in the last quarter.

Economically the coming years looks a lot like a box of ferrets with the outcome quite uncertain. I am comfortable suggesting that in a time of crisis you want to own something real rather than pieces of paper. I believe Diamcor has a bright future ahead with both increased sales and increased profit. When times get really tough, you can always carry a diamond in your pocket.

Diamcor is an advertiser. I do not own shares. Do your own due diligence.

Diamcor Mining Inc
DMI-V $.205 (Dec 16, 2022) 
DMIFF-OTCBB 122.5 million shares
Diamcor Mining website

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

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Base Metals Diamcor Mining Energy Exclusive Interviews Junior Mining Oil & Gas Precious Metals

Bob Moriarty – Mining, Metals, War

In this interview, we sit down with Bob Moriarty to discuss: ‘Moriarty’s First Law of Unintended Consequences‘ We discuss a broad range of topics ranging from the War in Ukraine, the importance of oil (fossil fuels), precious metals, and resource stocks! We also highlight the value thesis of contrarian investing/speculation.

Bob Moriarty is a renown for insights on junior mining and precious metals markets, as well as the common sense. This video is a great way to learn about the resource stocks tips, precious metals, how to analyze and exploit market conditions as a contrarian. Bob Moriarty the founder of 321gold.com visits us for an exclusive, one of a kind, interview to discuss a number of topics ranging from the War in Ukraine, Precious Metals (Bullion investments, and select junior mining companies (exploration stocks) that have his attention. If you are easily offended, this may not be for you. Bob Moriarty is a straight shooter that has the guts to say what others are afraid to say. We hope you enjoy!

Bob Moriarty: https://en.wikipedia.org/wiki/Robert_J._Moriarty

Moriarty’s First Law of Unintended Consequences: https://bit.ly/3BGcdCI

The Pentagon’s Latest Terrorist Victim: Germany: https://bit.ly/3WiRywZ

A Christmas Treat for Aviation Lovers  Bob Moriarty (No Guts, No Glory): https://bit.ly/3jap3mo

WATCH THE VIDEO!!!!

The Best Video on Why and When to Buy and Sell Physical Precious Metals:

I’m a licensed broker for Miles Franklin Precious Metals Investments, The Only Online Dealer that is Licensed and Bonded (Period)! Where we provide unlimited options to expand your precious metals portfolio, from:

Website| www.provenandprobable.com
Call me directly at 855.505.1900 or email: Maurice@MilesFranklin.com
Precious Metals FAQ – https://www.milesfranklin.com/faq-maurice/

Categories
Base Metals Diamcor Mining Energy Exclusive Interviews Junior Mining Precious Metals

A Diamond In The Rough

  • A profitable quarter and more on the horizon
  • A strategic joint venture suggests continued success
  • Rising interest in diamonds- A hard asset
  • Dubai is a buyer of the unpolished stones
  • Diamcor Mining (DMIFF) and undervalued OTC stock

A diamond is a solid form of the element carbon, with its atoms arranged in a crystal structure called a diamond cube. Most natural diamonds form over one billion years in the earth’s mantle, between 93 and 155 miles below the surface, and pressure transforms the carbon into stones.  

An unpolished diamond is in the stone’s natural state while polishing processes the stone into the jewels that are a “girl’s best friend.” De Beer’s iconic slogan, “A diamond is forever,” dates to 1947 and has become a symbol of love as engagement, wedding, and anniversary jewelry contains the stones. Aside from its use in jewelry, diamonds are critical for industrial cutting and polishing tools. In today’s markets, the case for investing in diamonds has become compelling.

Diamcor Mining Inc (DMIFF) is a Canadian producer with significant ties with the international diamond industry. The company recently reported a profitable quarter, which could lead to a higher stock price over the coming months and years.

A profitable quarter and more on the horizon

Diamcor Mining, Inc. reported third-quarter results showing growth and profits in late October. Operating results improved quarter-over-quarter with the sale of 3,776.33 carats of rough diamonds, up from 3,061.70 in Q2 2022. Third quarter revenue of around $2.1 million was higher than the $557.6 thousand in Q2.

Meanwhile, the company sales averaged $556.08 per carat in Q3 compared with $182.11 in Q2. The jump in the per-carat price came from selling a 59.35-carat gem quality unique rough diamond to a Middle Eastern investor.

Diamcor’s CEO, Dean Taylor, said, “We are very pleased with the continued quarterly growth achieved again for the period ending September 30, 2022, and remain optimistic given the recent announcement of the delivery of 5,833 carats for the first tender and sale of this quarter (Q4 2022).” The Q4 sale is already 54.5% above the carats sold in Q3 and could result in another profitable quarter when Diamcor reports results in early 2023.  

A strategic alliance suggests continued success

Anyone with even slight knowledge of the worldwide diamond business knows two names, Tiffany and De Beers. Tiffany is synonymous with diamonds, and De Beers is the South African mining and marketing giant.

Diamcor has established a long-term strategic alliance and the first right of refusal with Tiffany & Co. Canada, a subsidiary of the parent Tiffany & Co. headquartered in New York. The agreement is for Tiffany to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at the current prices determined by the parties on an ongoing basis. Tiffany provided Diamcor with financing to advance the project. Moet Hennessy Louis Vuitton (LVMH) is a publicly traded company listed on the Paris Stock Exchange (Euronext) which owns Tiffany & Co.

Meanwhile, the Krone-Endora at Venetia Project comprises approximately 5,888 hectares directly adjacent to De Beer’s flagship Venetia Diamond Mine in South Africa. In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited. In September 2014, the South African Department of Mineral Resources granted a Mining Right for the Krone-Endora at Venetia Project for 657.71 hectares of the Projects total area of 5,888 hectares. Diamcor has applied for additional mining rights for the remaining hectares.

Tiffany is a high-end retail leader in diamonds, and De Beers is a wholesale giant. Diamcor has established a joint venture with the retail leader and is a neighbor of a producing leader.

Rising interest in diamonds- A hard asset

Bain & Company is a US management consulting company headquartered in Boston, Massachusetts. The company provides advice to public, private, and non-profit organizations. In Bain’s report on The Global Diamond Industry 2021-2022, the consulting company said, “A brilliant recovery shapes up.” Some of the report’s highlights include:

  • Revenues recovered across the diamond supply chain in 2021, exceeding pre-pandemic levels.
  • Profit margins in every segment recovered, including in mining and retail sales.
  • Rough diamond sales rebounded by over 60% in 2021, surpassing pre-pandemic levels.
  • Rough and polished diamond prices reached the historical average in 2021 but lagged industry peaks.
  • Prices for higher-quality polished diamonds outperformed lower-quality diamonds.
  • In 2020, rough diamond production declined, falling to 111 million carats. In 2021, output grew to 116 million carats, still 20% below the level in 2019.
  • Rough diamond sales grew by 62% in 2021. Strong demand from cutters and polishers caused miners to increase production volumes and release diamonds from inventories.

While diamond prices have come down since April 2022, they have remained at the highest since April 2012.

Source: Diamondse.info

The index does not differentiate between the qualities of diamonds, but it presents an overall picture of price trends in the sector.

The following factors have increased interest in diamonds as an investment or keepsake over the past months:

  • The leading stock market indices have declined in 2022, leading investors to seek other asset sectors.
  • Inflation has been at its highest level since the early 1980s. Diamonds are a hard asset with a long history as a store of value.
  • While the US dollar has appreciated against other world currencies, faith in fiat foreign exchange instruments has declined.
  • Russia is, by far, the world’s leading producer of diamonds. The war in Ukraine, sanctions on Russia and Moscow’s retaliation against “unfriendly” countries supporting Ukraine have increased supply concerns, improving the outlook for diamond prices.
  • Companies like the Diamond Standard Fund are tokenizing, managing, storing, securing diamonds for investors, and have IRA-eligible investment programs.

Markets across all asset classes reflect the geopolitical and economic landscapes. In late 2022, the events and trends continue to favor higher diamond prices, even though they are sitting at the highest price level in a decade.

The Middle East is a buyer of the unpolished stones

In 2021, the countries that imported the most diamonds were:

Source: Worldsstopexports.com

These fifteen countries imported 96.5% of all diamonds in 2021. The United Arab Emirates was the fifth leading diamond-importing country, and the UAE imported more diamonds than the world’s second-leading economy, China. Diamcor’s recent sale of a 59.35-carat unpolished diamond was to a buyer in Dubai.

The rise in crude oil prices has filled the coffers of Middle Eastern producers with cash. With crude oil prices at the highest level in years, revenues continue to flow to the oil-rich area, providing the funds for diamond and other hard asset purchases.

Diamcor Mining (DMIFF), an undervalued OTC stock

At 15.24 cents per share on November 18, Diamcor Mining shares on the over-the-counter market reflect a $17.711 market cap. An average of 86,040 shares trades daily.

Source: Barchart

The chart highlights DMIFF shares reached a low of 4.60 cents in December 2020 and a high of 43.0 cents in October 2021. In 2022, the shares traded between 10.76 and 29.81 cents. At 15.24 cents, DMIFF shares were below the midpoint of this year’s trading range on November 18.

While DMIFF is a penny stock with associated risks, the following factors favor a rise in the share price over the coming months:

  • Diamcor is profitable and its production, and revenues are growing.
  • The interest in the diamond market is robust as investors look for hard assets to combat the highest inflationary pressures in decades.
  • The war in Ukraine continues to cause supply concerns for the international diamond market.
  • The strategic alliance with Tiffany & Co. and mining assets next to De Beers increase Diamcor’s odds of future success.
  • Mining companies have not had a positive beta with the overall stock market. Oil, metals, and other mining companies have outperformed the stock market in 2022, a trend that will likely continue.

At 15.24 cents per share, DMIFF could be a diamond in the rough as the company’s recent Q2 report justifies a higher share price.

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.