Diamcor Offers Shares To Boost Plant Efficiencies

Junior diamond mining company, Diamcor Mining, recently announced its intention to offer up to 12,5m shares, each priced at C$0.40 for C$5m.

The capital raised will be used to address insufficient recoveries of water from its settling dams at Krone-Endora Venetia Project. The project is aimed at supporting increased processing and to advance additional bulk sampling at the plant, which is situated in Northern Cape, South Africa.

Diamcor focuses on acquiring projects which deal with the processing of tailings reserves using modern technologies. The company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market, it said in a statement.

The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project.

Image: ©Unsplash - Aaron Burden

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