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DMI.v Diamcor C$1.55



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By Bobwins

Posted: Thursday Nov 26 7:04:38AM 2015

read a negative article about the diamond industry.  Apparently rough diamond prices have been artificially held up by DeBeers and are higher than finished diamond prices in some cases.  Banks have been lending to wholesalers based on the high rough diamond prices but article noted that drop in rough diamond prices is coming.  So finally pulled the trigger and sold all my DMI.v.  Been a big disappointment after holding all this time but didn't trust mgmt and if the diamond market drops like other commodities, DMI.v may have trouble even if they can ramp up production.  


By Bobwins

Posted: Friday Oct 30 2:42:49PM 2015

TSX.V Symbol (DMI)

KELOWNA, BCOct. 30, 2015 /CNW/ - Diamcor Mining Inc. (TSX-V.DMI / OTCQX-DMIFF), (the "Company") announces it is preparing diamond inventory for its largest tender to date, with approximately 6,800 carats of rough diamonds recovered from its Krone-Endora at Venetia project in South Africa (the "Project") to be offered.  Rough diamonds in this initial tender of the Company's third fiscal quarter ending December 31, 2015, will consist of approximately 2,800 carats of rough diamonds from material recovered and processed from the beginning of October to the 25th of the month, along with ~4,000 carats of rough diamonds which the Company previously announced were held as rough diamond inventory as of September 30, 2015.  Rough diamonds being offered for the planned tender will include certain higher value rough diamonds which the Company withdrew from the previous tender, namely eight individual 2-3 carat rough diamonds, as well as one 10.93 carat "special" (+10.8 carat rough diamonds), and four additional individual "specials" ranging in size between ~11.72 carats and ~18.05 carats.   

Rough diamonds being tendered are the result of the continued processing of material in the +1.0mm to -26mm size fractions, along with limited processing of material from various larger size fractions during the period.  The combined efforts currently underway are designed to support the continued advancement of objectives consistent with the recommendations of the updated NI43-101 Technical Report ("Updated Technical Report") filed by the Company on April 28, 2015, and to aid the Company in arriving at initial production decisions for the Project.

The recovery of all rough diamonds to date are incidental to the ongoing commissioning and testing exercises performed at the Project.  The above-noted testing exercises and incidental recoveries do not form part of the Updated Technical Report and therefore no general grade, price, or quality determination is intended by the Company at this time due to the nature and purpose of the processing of this material.

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. 

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 a publically traded company which is listed on the New York Stock Exchange under the symbol TIF.  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 an average total depth of less than 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.
DTaylor@diamcormining.com
Tel (250) 864-3326
www.diamcormining.com


Read more at http://www.stockhouse.com/news/press-releases/2015/10/30/diamcor-preparing-for-largest-rough-diamond-tender-to-date#aUZQO7WiD7mrAQbr.99


By Bobwins

Posted: Thursday Sep 11 9:42:10AM 2014

Finally they can go 24/7.  Bought a feew more at 1.25 

TSX.V Symbol (DMI)

KELOWNA, BCSept. 11, 2014 /CNW/ - Diamcor Mining Inc. (TSX-V.DMI / OTCQX-DMIFF), (the "Company") today reports that the South African Department of Mineral Resources has granted a Mining Right for the Krone-Endora at Venetia Project (the "Project"). The Mining Right has a 30 year term and grants the Company the sole and exclusive right to mine and recover diamonds over areas initially targeted by the Company 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 Project is located directly adjacent to De Beers' flagship Venetia Diamond Mine in South Africa, and the Project's associated deposits have been identified as being the result of the direct-shift and erosion of material from the higher grounds of the adjacent Venetia Kimberlite areas.

"This is a significant achievement for the Company, our Black Economic Empowerment Partner, the South African Department of Mineral Resources, local government, and the people in these areas that have and will continue to benefit from the economic development associated with this Project," commented Mr. Dean Taylor, Chief Executive Officer of the Company.  "With the mining right in place, we look forward to advancing the Project to the next stages of development, and in so doing create value for all stakeholders while creating new direct and indirect jobs that contribute to the socio-economic development of the Limpopo region and South Africa in general," added Mr. Taylor.

By way of background, the Company was selected by DeBeers to acquire the Project following an extensive competitive proposal and review process that commenced in 2008.  The Company closed the Project acquisition in February of 2011 through its South African subsidiary, DMI Minerals South Africa (Proprietary) Limited ("DMI Minerals").  DMI Minerals is 70% owned by the Company, and 30% owned by the Company's Black Economic Empowerment partner, Nozala Investments (Proprietary) Ltd, ("Nozala").  Nozala is a broad-based 100% women-owned business entity with an estimated 500,000 rural women shareholders. Shortly after finalizing the acquisition, the Company entered into a long-term strategic alliance, inclusive of supply and financing components, with world famous premier luxury jewellery and specialty retailer, New York based Tiffany & Co.

To date, the Company has financed, developed and completed the design, construction and installation of extensive infrastructure at the Project in support of the Project's advancement.  The near surface nature of the deposits provide the potential for a low-cost mining operation with near-term diamond production from a known high-quality diamond source, at a critical time in the diamond sector.

The Company also reports that it plans to file an updated NI43-101 technical report in the near future and this updated NI43-101 technical report will incorporate and expand on the extensive infrastructure development work achieved to date at the Project, as well as other relevant data available to this point. The current NI43-101 was prepared and filed in 2009 as part of the acquisition process.  In conjunction with further advancement of the Project, the Company plans to complete additional bulk sampling and exploration exercises on areas, including those areas surrounding the current areas of focus, the results of which will be incorporated into subsequent NI43-101 report(s).

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 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.  For additional information on Diamcor, please visit our website at www.diamcormining.com.

About the Tiffany & Co. Alliance

As announced on March 29, 2011, 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 substantial financing to advance the Project as quickly as possible. Tiffany & Co. is a publically traded company which is listed on the New York Stock Exchange under the symbol TIF.  Founded in 1837, the Tiffany name is now globally recognised as one of the premier luxury jewellery and specialty retailers in the world. Through Tiffany & Co. and various other subsidiaries, the company is engaged in product design, manufacturing, and retailing activities on a global basis.  As of April 30, 2014, Tiffany & Co. operated 292 stores and boutiques in the Americas, JapanAsia-PacificEurope and the United Arab Emirates, and also engages in direct selling through internet, catalog and business gift operations. 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. De Beers previously completed various exploration efforts on initial areas of interest comprised of approximately 307 hectares, a summary of which was reported in an initial Independent NI 43-101 Technical Report filed by the Company on July 30, 2009. 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 an average total depth of less than 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.  Since acquiring Krone-Endora the Company has completed the construction and installation of extensive roads, water pipelines, and power infrastructure at the Project, along with the design and installation of a purpose built modular processing plant, and an extensive quarrying and in-field screening plant.  The Company's current efforts are designed to be a continuation of the ongoing advancement of the Project, and as part of the Company's preparations for an ultimate decision to move from bulk sampling and trial mining exercises to full scale mining operations.

Qualified Person Statement:

Mr. James P. Hawkins (BSc., 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.
DTaylor@diamcormining.com
Tel (250) 864-3326
www.diamcormining.com


Read more at http://www.stockhouse.com/news/press-releases/2014/09/11/mining-right-issued-for-diamcor-s-krone-endora-at-venetia-project#8eiJ71k13ycR7yrt.99


By Bobwins

Posted: Monday Jan 20 11:58:56AM 2014

 
 
 
 
 
 
 
I missed this PR a few days ago.  Looks like they are moving towards 24/7 operations.  Sounds like they have a ways to go to reach full capacity.  At the last QIS conference, they were saying they expected .20 to .40eps for 2014.  I bought based on the advanced stage of the project, their affiliation with DeBeers and Tiffany's and the projected eps.  

 

TSX.V Symbol (DMI)

KELOWNA, BCJan. 13, 2014 /CNW/ - Diamcor Mining Inc. (TSXV:DMI), (the "Company"), an emerging producer of rough diamonds, has continued to make excellent progress on the advancement of the Company's Krone-Endora at Venetia Project ("Krone-Endora" or the "Project"), in anticipation of its planned move to 24/7 operations.  The Company also reported its third consecutive increase in quarterly revenues in its fiscal year 2014 from testing and commissioning exercises at the Project.

During the third quarter of fiscal 2014 ended December 31, 2013, the Company completed two sales of rough diamonds.  The majority of the rough diamonds sold were recovered in conjunction with ongoing testing and commissioning exercises on the lower-grade upper zone material in the +1.2mm to -12.0mm size fractions, with the remaining diamonds recovered from limited processing of material in the +12.0mm to -26.0 mm size fractions.

A total of 3,955 carats of rough diamonds were sold in the third quarter of fiscal 2014, generating total proceeds of $1,431,288.00 (US), or an average of $361.81 (US) per carat.  This represents an increase in total quarterly proceeds; compared to $856,119.02 (US) for the second quarter of fiscal 2014 ended September 30, 2013, and $415,495.03 (US) for the first quarter of fiscal 2014 ended June 30, 2013. Total proceeds for the third quarter of fiscal 2014 included proceeds from the previously announced sale of the Company's first gem quality rough diamond in the +50 carat size category, a 91.72 carat octahedron diamond which sold for $817,920.00 (US), or $8,917.58 (US) per carat.  As of December 31, 2013 the Company had approximately 1,500 additional carats of rough diamonds which will be tendered for sale in the current quarter, which is the Company's fourth quarter of fiscal 2014.

During the third quarter of fiscal 2014, in conjunction with the ongoing testing and commissioning exercises, the Company also completed further development and expansion work on the Project's in-field quarrying and dry-screening plant. This included the installation of a higher capacity resonance screening system supplied by Dabmar Industries, along with expanded conveyor systems and structures designed and fabricated by the Company to enhance the efficiency and capacity of the dry-screening plant.  Additionally, the Company made enhancements to the main processing plant including the installation of greater capacity de-watering screens and a dedicated crushing cycle which will improve the effectiveness of processing materials in the larger size fractions.

To date, the Company has tendered and sold a total of 15,411.74 carats generating total proceeds of $3,213,731.05 (US), or $208.52 (US) per carat on average, from the ongoing commissioning and testing exercises performed at the Project.  It should be noted that the above testing recoveries, and sales, do not form part of the initial NI43-101 Technical Report filed by the Company in July 30, 2009, and thus no general grade, price, or quality determination is intended by the Company at this time due to the nature and purpose of the processing of this material.

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, extensive 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 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.  For additional information on Diamcor, please visit our website at www.diamcormining.com.

About the Tiffany & Co. Alliance

As announced on March 29, 2011, 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 substantial financing to advance the Project as quickly as possible. Tiffany & Co. is a publically traded company which is listed on the New York Stock Exchange under the symbol TIF.  Founded in 1837, the Tiffany name is now globally recognised as one of the premier luxury jewellery and specialty retailers in the world. Through Tiffany & Co. and various other subsidiaries, the company is engaged in product design, manufacturing, and retailing activities on a global basis.  As of October 31, 2013, Tiffany & Co. operated 283 stores and boutiques in the Americas, JapanAsia-PacificEurope and the United Arab Emirates, and also engages in direct selling through internet, catalog and business gift operations. 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. De Beers previously completed various exploration efforts on initial areas of interest comprised of approximately 307 hectares, a summary of which was reported in an initial Independent NI 43-101 Technical Report filed by the Company on July 30, 2009. 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 an estimated combined 1,000 m (1 km) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with an average total depth of less than 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.  Since acquiring Krone-Endora the Company has completed the construction and installation of extensive infrastructure at the Project, along with the installation of a purpose built modular processing plant, and extensive quarrying and in-field screening operations.  Commissioning of the processing plant is now complete, and the Company's current efforts and final refinements to the quarry and in-field screening operations are designed to be a continuation of the ongoing advancement of the Project, and part of the Company's final preparations in anticipation of a planned move to 24/7 operations in the near future.

Qualified Person Statement:

Mr. James P. Hawkins (BSc., 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.
DTaylor@diamcormining.com
Tel (250) 864-3326
www.diamcormining.com

Investor Relations Contact:
Ron Both
Liolios Group, Inc.
DMI@liolios.com
Tel (949) 574-3860


Read more at http://www.stockhouse.com/news/press-releases/2014/01/13/diamcor-increases-revenues-for-third-consecutive-quarter-in-fiscal-2014#74ZV6h8M6EJJf5pd.99


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