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DMI.v +.11 to C$1.21



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By Bobwins

Posted: Tuesday Apr 14 7:34:32AM 2015

FRC posted a revised update on DMI.v with a target price of C$2.45.  They cited improved balance sheet due to 12/14 financing at C$1 for 3 million that raised cash to $3million and an agreement with Tiffany's to delay principal repayment on term debt starting in 1/16.  Term debt will be about $300K per month in 1/16 so DMI needs to get the plant up and running soon.  

FRC says to expect 24/7 operations in the next few months, giving them a little time to work out the kinks before the debt repayments kick in.  

Fundamentals in the diamond markets are still good, with limited production increases seen versus continuing increases in demand.

 


By Bobwins

Posted: Wednesday Mar 25 9:19:01AM 2015

dmi.v  +.06 to C$1.28  DMI has been moving up on low volume.  I hope somebody knows that good news is coming or it could be one investor that likes the longer term story accumulating a position.  We'll see.  


By Bobwins

Posted: Thursday Feb 5 10:37:42AM 2015

DMI.v  C$1.12  no trades  this PR makes it sound like they are just starting out.  They've been trial mining for a couple of years and yet they make no promises about when they will ramp up production.  Bought this stock after they presented at a Smallcaps conference.  Rosy projections but so far not much performance.  Hope they start showing progress soon. 

 

 

KELOWNA, BC , Feb. 5, 2015 /CNW/ - Diamcor Mining Inc. (TSX-V.DMI / OTCQX-DMIFF), (the "Company") announces that subsequent to the closing of its recently announced $3.13M private placement on December 31, 2014 , it has commenced the planned further expansion of its Krone-Endora at Venetia (the "Project") mining facilities.  To date, the Company has developed and financed the design, construction and installation of extensive infrastructure aimed at supporting the continued advancement of the Project.  Due to the nature of the deposit, one of the primary objectives was the design and development of the Project's in-field dry-screening plant necessary for the efficient removal of fine material under 1.0mm in size.  As a result of extensive testing and development, the in-field dry-screening plant now meets the Company expectations, thus clearing the way for the acquisition and deployment of infrastructure necessary to effectively treat and process larger material in the +26.0mm size fractions which, to date, has been stockpiled. The upgrades underway are also designed to enhance efficiencies related to all sizes of material.  Additional infrastructure upgrades include the upgrade and expansion of the Project's X-ray final recovery systems, the installation of additional processing equipment to enhance the crushing and liberation of material in the noted larger size fractions and the deployment of larger heavy equipment.  The Company expects the expansion to be complete with upgrades implemented in the fiscal quarter commencing April, 2015.  In support of the Company's plans, Tiffany & Co. Canada agreed to one year deferral and loan extensions, effective December 1, 2014 , of all principal and interest payments accruing after that date pursuant to the terms of its loan and convertible debenture financings with the Company.  Interest will continue to accrue on the outstanding balances of the financing facilities during this period.  Payments of both principal and interest will once again commence in January, 2016.

During the Company's third fiscal quarter ended December 31, 2014 , preparations also continued in connection with the updating of the Company's initial NI43-101 technical report.  Once filed, the updated report is expected to reflect the nature and extent of the infrastructure development achieved at the Project, as well as other relevant data available to this point.  Subsequent to the filing of this updated technical report, and the completion of the above noted upgrades now underway, the Company plans to complete expanded trial mining exercises and the processing of material in all size fractions from deposits in the K1 area of the Project.  The results of these exercises are aimed at providing the Company with more comprehensive information on all gravels and size fractions of the deposit, and to assist the Company in arriving at initial production decisions for the K1 area of the Project.  Given the extensive facilities and operating infrastructure in place at the Project, the Company will also have the ability to complete additional exploration, bulk sampling, and the processing of bulk samples in the future from various areas including those areas surrounding K1 and the current areas of focus.  Once complete, the results of these exercises will be used to support the planned subsequent filing of NI43-101 report(s), and to assist the Company in developing its operational strategy for the Project.

About Diamcor Mining Inc.
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 QX 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. 


By Bobwins

Posted: Monday May 26 11:14:30AM 2014

DMI.v  +.08 to C$1.43 on low volume today.  Q4 ending 3/31/14 resulted in about the same level of gross revs as 12/31/13 qtr, 1.3million.  Should be close to breakeven.  Still no word of when they will get permit to go 24/7 mining.  

 

Their projections of 10,000 carats/month initially and 20,000 carats/month by year end 2014 may be in jeopardy if permit doesn't come pretty soon.  Still think the wait is worth it.  If they break even at 1200 carats/ month, what happens at 10,000? 20,000?  They show .20 to .40eps in their projections, depending on when they get the approval to go 24/7.  


By dquinton

Posted: Monday Apr 14 9:17:36AM 2014

I bought some additional shares as well.  It's in my speculative portfolio but the stock has really come off right when I'm starting to get interested fundamentally.


By Bobwins

Posted: Friday Apr 11 11:22:05PM 2014

Diamcor has been selling off after their latest private placement.  24/7 processing has been delayed but an update report from Fundamental Research says they expect it by 6/14.   Still not profitable but close to cashflow breakeven.

I added a few thousand shares to lower my avg cost.  Still underwater but hoping these guys get their permit and ramp up as they promised at last year's conference.

 

 

 

 


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