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Diamondcorp PLC sells major diamond parcel at tender

Diamondcorp has sold just over US$590,000 of diamonds at tender in South Africa
Diamondcorp PLC sells major diamond parcel at tender
One big stone could swing Diamondcorp's average dollar per carat values upwards

Diamondcorp Plc (LON:DCP) has announced the sale of just over US$590,000 worth of diamonds recovered from its Lace mine in South Africa.

The company recovered the diamonds before it was placed into business administration last month following catastrophic weather conditions and flooding.

A total of 5,129.9 carats were delivered to Johannesburg for tender. After boiling losses, a total of 5,116.6 carats were prepared for sale.

 

The parcel comprised run of mine production with five stones larger than 10 carats. The largest stone was a 19.43 carat non-gem diamond.

 

Unfortunately, all the larger goods were either non-gem, or contained carbon inclusions or cracks which resulted in reduced valuations.

 

The price received amounted to US$115.46 per carat. This has meant that Diamondcorp’s dollar per carat average has now dropped this year to US$146 per carat, although the recovery of one large stone could easily swing that number up again.

 

 

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Diamondcorp Plc Timeline

Newswire
February 28 2017
Newswire
January 31 2017
Newswire
November 16 2016

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