Tag: #DeanTaylor

Categories
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 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.

Categories
Base Metals Diamcor Mining Junior Mining

Diamcor Announces Continued Strong Tender and Sales Results For the Quarter Ended December 31, 2022

Diamcor Mining, Proven and Probable

KELOWNA, BC / ACCESSWIRE / December 8, 2022 / Diamcor Mining Inc. (TSXV:DMI)(OTCQB:DMIFF)(FRA:DC3A), (“Diamcor” or, the “Company”) announces today the results of its second and final tender and sale of rough diamonds recovered from the processing of quarry material from the Company’s Krone-Endora at Venetia Project (the “Project”) for the current quarter ended December 31, 2022. In the second and final tender and sale of its third fiscal quarter, the Company sold an additional 2,808.84 carats of rough diamonds generating gross revenues of USD $629,283.94, resulting in an average price of USD $224.04 per carat. This brings the total carats sold in the current quarter to 8,327.58, generating gross revenues of USD $2,054,248.33, resulting in an average price of USD $246.68 for the period. This represents a 121% increase compared to the total carats sold during the previous quarter ended September 30, 2022.

Highlights

  • Specials Category Diamonds. The results of the total tender and sale of rough diamonds for the current quarter included several larger gem quality rough diamonds in the Specials (+10.8 carats) category, with the largest individual diamond being 43.55 carats in size. The Company continues to recover these larger gem quality diamonds which is further confirmation of the potential for these types of rough diamonds to be recovered from the Project’s deposits.
  • Strong Initial Tender and Sale. The Company previously announced that in its initial tender and sale of rough diamonds for the current quarter ended December 31, 2022, a total of 5,518.74 carats were sold, generating gross revenues of USD $1,472,471.03, representing an average price of USD $266.81 per carat.
  • Strong Average Dollar Per Carat Continues. In the Company’s second and final tender and sale for the current quarter ended December 31, 2022, the Company sold an additional 2,808.84 carats, generating gross revenues of USD $629,283.94, representing an average price of USD $224.04 per carat.
  • Total Carats Sold Quarter over Quarter Increased by 121%. The combined total carats tendered and sold in the current quarter ending December 31, 2022, increased by 121% when compared to the 3,776.33 carats tendered and sold in the previous period ended September 30, 2022.
  • Balance of Rough Diamonds Recovered in Period. The Company has recovered and delivered approximately 1,025.35 carats of additional rough diamonds which were not tendered and sold in the two sales completed in the current quarter. These rough diamonds, along with additional rough diamonds recovered prior to December 31, 2022, will be recorded as stock on hand at the end of the current period, and are expected to be tendered in the Company’s next quarter.
  • Strong Revenues Continued in Current Quarter. The gross revenues from the two tenders and sales completed in the current quarter ending December 31, 2022, remained relatively consistent at USD $2,054,248.33 when compared with the previous period’s USD $2,099,951.32. The gross revenues generated in the current quarter were the result of the noted increase in total carats sold, as compared to the previous quarter where the Company sold fewer carats and the gross revenue was positively affected by the sale of a 59.35 carat gem quality special rough diamond.

“We are very pleased with the continued progress being made and our ability to achieve a 121% increase in the total carats sold quarter over quarter”, stated Mr. Dean Taylor, Diamcor CEO. “This increase in total carats tendered and sold during this quarter demonstrates the Company’s ability to generate significant revenues without the added benefit of any significant larger high-value rough diamonds, and the positive impact that achieving both of these scenarios could have for our Company moving forward. Our efforts remain focused on continuing to increase processing volumes and the recovery of larger high-valued rough diamonds moving forward.”

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
Base Metals Diamcor Mining Junior Mining

Diamcor Announces Strong Tender and Sales Results Including Several Gem Quality Diamonds in the Specials Category

Diamcor Mining, Proven and Probable
https://www.diamcormining.com/

KELOWNA, BC / ACCESSWIRE / November 14, 2022 / Diamcor Mining Inc. (TSX-V:DMI)(OTCQB:DMIFF)(FRA:DC3A), (“Diamcor” or, the “Company”) announces today the results of its first tender and sale of rough diamonds recovered from the processing of quarry material from the Company’s Krone-Endora at Venetia Project (the “Project”) held during the current quarter. In the first tender and sale of its third fiscal quarter, the Company sold a total of 5,518.74 carats of rough diamonds including several rough diamonds in the Specials (+10.8 carats) category, with the largest being 43.55 carats in size, generating gross revenues of USD $1,472,471.03, resulting in an average price of USD $266.81 per carat. The total carats sold in this initial sale of the current quarter represents a 148% increase in the carats sold during the previous quarter.

Highlights

  1. Specials Category Diamonds. The results of the first tender and sale of the current quarter included several larger gem quality rough diamonds in the Specials category including a 43.55 carat diamond. The Company continues to recover these larger gem quality diamonds which is further confirmation of the potential for these types of rough diamonds to be recovered from the Project’s deposits.
  2. 148% Increase. In total, 5,518.74 carats have now been sold in the current quarter to date, generating gross revenues of USD $1,472,471.03 resulting in an average price of USD $266.81. The total number of carats sold to date this quarter is a 148% increase quarter over quarter. A second tender and sale is expected before the end of this year which would further increase volumes and revenues in the current quarter.

“We are very pleased with the processing plant refinements implemented to date resulting in the increased volumes delivered and sold at our latest tender and sale. Representing a 148% increase in carats sold quarter over quarter, we look forward to adding to this increase in our next sale before the year end”, stated Mr. Dean Taylor, Diamcor CEO. “Along with receiving a higher dollar per carat average that is more than double the world average from this current sale, the Company continues to recover large gem quality diamonds in the Specials category. We look forward to continuing our processing refinements with the potential of increasing processing volumes and resulting revenues, quarter over quarter going forward.”

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) 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.

SOURCE: Diamcor Mining Inc.



View source version on accesswire.com:
https://www.accesswire.com/725468/Diamcor-Announces-Strong-Tender-and-Sales-Results-Including-Several-Gem-Quality-Diamonds-in-the-Specials-Category

Categories
Diamcor Mining Energy Junior Mining

Diamcor Reports Fiscal Second Quarter 2022 Results

Diamcor Mining, Proven and Probable

Continued Growth and Larger Diamonds result in Net Income of $1,016,568

KELOWNA, BC / ACCESSWIRE / October 26, 2022 / Diamcor Mining Inc. (TSXV.DMI)(OTCQB:DMIFF)(FRA:DC3A), (“Diamcor” or, the “Company”) today reported its quarterly financial statements and related management discussion and analysis for the quarter ended September 30, 2022.

Highlights

  1. Operating results improved quarter over quarter with the tender and sale of 3,776.33 carats of rough diamonds for the interim period ended September 30, 2022 (3,061.70 – June 30, 2022), generating increased revenue of (USD) $2,099,951.32 ($557,559.22 – June 30, 2022), resulting in an average price of (USD) $556.08 per carat ($182.11 – June 30, 2022).
  2. The Company recorded a net income of $1,016,568 for the interim period ended September 30, 2022, as compared to a net loss of $918,953 in the previous interim period ended June 30, 2022
  3. The above total revenue and average price per carat was positively affected by the sale of a 59.35 carat gem quality special rough diamond.
  4. The Company’s focus during the period continued to be on managing costs and remaining supply chain delays, the optimization of operational hours to minimize the effects of national load-shedding in South Africa by the state-run national power supplier (Eskom), and continued refinements to processing plants and equipment aimed at sustaining increased processing volumes for the long-term.

“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” stated Mr. Dean Taylor, Diamcor CEO.

The Company’s recently filed financial statements for the quarter ended September 30, 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, the OTCQB International under the symbol DMIFF, and on the Frankfurt Exchange under the symbol DC3A. The Company has a well-established operation in South Africa with a proven history of supplying rough diamonds to the world market. Diamcor has established a long-term strategic alliance with world famous luxury retailer Tiffany & Co. and is now in the final stages of developing the Krone-Endora at Venetia Project co-located with De Beer’s flagship Venetia mine.

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.
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
Base Metals Diamcor Mining Junior Mining

Diamcor Announces Strong Tender and Sales Results Including 59.35 Carat Special Gem Diamond

Diamcor Mining, Proven and Probable

Diamcor Mining Inc.Diamcor Mining Inc.Wed, September 7, 2022 at 9:00 AMIn this article:

  • DMIFF-4.47%

KELOWNA, BC / ACCESSWIRE / September 7, 2022 / Diamcor Mining Inc. (TSX-V.DMI)(OTCQB:DMIFF)(FRA:DC3A), (“Diamcor” or, the “Company”) announces today the results of its second tender and sale of rough diamonds recovered from the processing of quarry material from the Company’s Krone-Endora at Venetia Project (the “Project”) held during the current quarter. In the second tender and sale of its second fiscal quarter, the Company sold a total of 1,836.52 carats of rough diamonds including the previously announced 59.35 carat gem diamond, generating gross revenues of USD $1,621,559.42, resulting in an average price of USD $882.95 per carat.

Highlights

  • The larger gem quality 59.35 carat special rough diamond clearly enhanced the overall average dollar per carat achieved in the second tender and sale of the quarter, and is further confirmation of the potential for these types of rough diamonds to be recovered from the deposits and positively affect gross revenues.
  • The results of the tender and sale exclusive of the 59.35 carat special rough diamond was 1,777.17 carats, generating gross revenues of USD $425,423.42, resulting in an average price of USD $239.38 per carat.
  • Although the total number of carats sold to date this quarter is greater than the previous quarter, the total number of carats offered for tender and sale was lower than anticipated, largely a result of the significant Eskom power outages experienced in South Africa during July and August, and the resulting loss of operational hours during those months. Additionally, while the average dollar per carat net of the 59.35 carat rough diamond remained consistent with recent sales, the percentage of +2.0 carat rough diamonds appeared to be lower than normal. This deficiency is believed to be the result of errors in the Project’s final recovery systems, which may have been caused by repeated power supply issues. With both the Eskom outages and power variations now ended for the most part, the Company has undertaken a full review of these systems to ensure any potential for further issues in this area have been minimized moving forward.
  • In total, 3,776.33 carats have now been sold in the current quarter to date, generating gross revenues of USD $2,099,951.32 resulting in an average price of USD $556.08 per carat inclusive of the 59.35 carat special rough diamond. These gross revenues in the current quarter represent a 276% increase from the gross revenues generated in the previous quarter ending June 30, 2022.

“We are very pleased with the strong results achieved at our latest tender and sale, despite dealing with the significant challenges of operational interruptions and the resulting lower processing volumes caused by the rolling blackouts implemented by South Africa’s national power supplier, Eskom.”, stated Mr. Dean Taylor, Diamcor CEO. “The revenues achieved confirm the potential and value of recovering large gem quality rough diamonds in the specials category, and with the country’s power supply now appearing to have stabilized, we look forward to increased processing volumes through to the end of this year and the potential of recovering additional large rough diamonds in the specials category.”

Update on the Annual Filings and Revocation of the MCTO

The Company is also pleased to announce that the delay in filing its audited financial statements and corresponding management’s discussion and analysis for the year ended March 31, 2022, resulting from the ongoing delays in South Africa related to Stage 6 load-shedding (also known as rolling blackouts) in July by the state-owned electricity utility, Eskom, has been rectified. The Company is now current in its required filings, and the Management Cease Trade Order detailed in its news releases on July 29, 2022, and August 12, 2022, has been revoked by the British Columbia Securities Commission.

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) 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.

SORUCE: Diamcor Mining Inc.



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Diamcor Mining Junior Mining

Diamcor Announces Application for a Management Cease Trade Order

Shares Issued and Outstanding: 120,320,746

KELOWNA, BC / ACCESSWIRE / July 29, 2022 / Diamcor Mining Inc. (TSXV.DMI / OTCQB-DMIFF / FRA-DC3A), (the “Company“) announces that due to ongoing delays in South Africa noted below, the Company will be unable to file its audited financial statements and corresponding management’s discussion and analysis for the year ended March 31, 2022 (collectively, the “Financial Disclosure“) on or before the prescribed filing deadline of July 29, 2022 as required by National Instrument 51-102 – Continuous Disclosure Obligations.

The Company’s mining operations are located in South Africa, which has been experiencing Stage 6 load-shedding (also known as rolling blackouts) this month by the state-owned electricity utility, Eskom. The reasons for the delay in filing include the inability to complete the South African portion of the Company’s annual audit in normal time frames as a result of ongoing delays relating to the power load-shedding implemented by Eskom, and the Canadian auditors’ inability to complete their audit due to reliance on the finalization of audit work in South Africa.

The Company is working with its auditors on the remaining items to allow for the audit of the financial statements for the year ended March 31, 2022 to be completed. The Company anticipates that it will be in a position to file its Financial Disclosure before August 31, 2022. The Company confirms that it will comply with the alternative information guidelines included in National Policy 12-203 – Management Cease Trade Orders, for so long as it remains in default of a specified requirement.

The Company has filed an application with the British Columbia Securities Commission and the Alberta Securities Commission requesting that they issue a management cease trade order against the Company’s Directors, Officers and Insiders instead of a cease trade order against the Company and all of its securityholders.

As has been widely reported, South Africa’s state-owned power supplier Eskom was forced to implement significant load-shedding measures over a period of several weeks. The load-shedding measures were varied depending on power reduction requirements, but resulted in power blackouts several times per day over a period of weeks. The frequency of these power blackouts limited the ability of the majority of businesses in South Africa to operate as normal, and resulted in various operational and administrative delays for the Company.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522South_Africa%253BTiffany_%2526_Co.%253BCompany%253BFinancial_statement%253BTSX_Venture_Exchange%253BFinancial_disclosure_of_public_servants%253BEskom%253BAlberta_Securities_Commission%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%25227fe2adb3-eb6e-3a3b-b496-4fe5d107cf3c%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

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
Tel (250) 864-3326
www.diamcormining.com

Statement Regarding Forward-Looking Information

This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this document include statements concerning the Company’s intent to file the Financial Disclosure before August 31, 2022 and all other statements that are not statements of historical fact.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with adverse industry events; future legislative and regulatory developments; COVID-19 and other assumptions, risks and uncertainties.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.

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 Energy Exclusive Interviews Junior Mining

(VIDEO) Diamcor Mining – Reaching an Inflection Point in Revenue from their Gem Quality Diamond Sales

Diamcor Mining, Proven and Probable

Diamcor Mining Inc. is a fully reporting publically 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 prior operational and production history in South Africa, extensive prior experience supplying rough diamonds to the world market, and has established a long-term strategic alliance with world famous Tiffany & Co. Rather than exposing itself to the high risks and costs associated with traditional exploration, the Company’s focus is on the identification, acquisition, and operation of unique diamond projects with near-term production potential such as the Krone-Endora at Venetia Project.

The Krone-Endora at Venetia project was acquired from De Beers and is co-located directly adjacent to the De Beers Venetia Diamond Mine in the Limpopo province of the Republic of South Africa, approximately 500 km north-northeast of Johannesburg. The Venetia mine is the 3rd largest diamond mine in the world, and South Africa’s largest producer of diamonds, accounting for over 50% of South Africa’s annual output. A high percentage of the diamonds produced at Venetia are reported as being gem quality, with the rest sold for industrial uses. Given the Krone-Endora projects location directly adjacent to the established Venetia mine, many operational benefits are obvious. In addition to this, both the previous exploration and the NI43-101 report concluded that the deposit on Krone-Endora at Venetia was not only an alluvial deposit, but also a rare eluvial deposit indicating a direct shift of material from the higher grounds of the Venetia Kimberlite clusters onto the lower surrounding areas of Krone-Endora. Given the eluvial nature of the deposit and its location directly adjacent to the source, the diamondiferous gravels at Krone-Endora at Venetia appear much more consistent in nature with initial grades from drilling and bulk testing much higher than that of typical alluvial type deposits.

As part of the acquisition process an independent NI 43-101 technical report for the Krone-Endora at Venetia project was released by the Company in July of 2009 and updated in April of 2015. The updated report provided an inferred resource estimate of 57,981,000 tonnes of diamond-bearing gravels with 1,387,000 carats of diamonds for the areas of the project on which work has been done to date. In conjunction with a planned move to immediate trial-mining exercises on these areas, the Company will concurrently perform additional drilling to determine the full potential of the project to assist in final production decisions. The deposit is also noted to be near surface, and diamond bearing from surface to bedrock, and with a total depth of 15 meters from surface to bedrock, will allow for a simple, low-cost strip mining operation to be employed.