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Diamcor Mining Inc V.DMI

Alternate Symbol(s):  DMIFF

Diamcor Mining Inc. is a Canada-based diamond mining company engaged in the mining, exploration, and sale of rough diamonds. The Company's primary focus is on the mining and development of its Krone-Endora at Venetia Project, which is co-located and directly adjacent to De Beers' Venetia Diamond Mine in South Africa. The Krone-Endora at Venetia Project consists of prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares. In addition to the advancement of the Krone-Endora at Venetia project, the Company also reviews and pursues other mining opportunities in South Africa and other mining regions. The Company focuses on the acquisition and development of mid-tier projects with near-term production capabilities and growth potential. It also focuses on acquiring projects which deal with the processing of tailings reserves.


TSXV:DMI - Post by User

Bullboard Posts
Comment by Bobwinson Oct 06, 2015 11:54am
125 Views
Post# 24167531

RE:Diamcor Second Fiscal Quarter Sales and Operational Update

RE:Diamcor Second Fiscal Quarter Sales and Operational Updategross revs up about $210K but since they lost over 700K last qtr, we are still not close to positive cashflow.  Diamond prices going lower isn't helping.  Was encouraged to see that they held as much inventory as they sold, indicating production is increasing.  Sales plus inventory equals about 8,000 carats for the qtr.  That's a far cry from the 20,000 carats/month they forecast when I bought but it's a start.  Mentioned water as a limiting factor in increasing production.  

Did you just find this out??????  You've been in test mode for 3 years.  Why couldn't you anticipate that it would take more water to process more material.  I guess it's easier to project 20,000 carats/month on an excel spreadsheet and make up a bunch of nice graphs than it is to do it for real.  
Bullboard Posts