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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was an enthusiastic 113-63-134 as the TSX Venture Exchange rose six points to 575. Dean Taylor's Diamcor Mining Inc. (DMI) closed unchanged at 6.5 cents on 51,000 shares. Diamcor says -- well, hopes -- that it will get back to selling diamonds recovered from gravel quarried at its Krone-Endora at Venetia project in South Africa.

The company acquired the project a dozen years ago from De Beers, which owns the nearby Venetia mine, and since then Diamcor has engaged in a never-ending (but occasionally suspended) trial mining effort. It has been a success from a mining perspective as since the work began, the company has sold 201,461.6 carats of diamonds for $38.7-million (U.S.), an average of $192.50 (U.S.) per carat.

Mind you, those numbers are nearly identical with what Diamcor reported at the end of September. Indeed, Mr. Taylor, president and chief executive officer, says that the company suspended sales last fall because the sector looked to achieve a "rebalancing of the rough diamond supply chain." As well, Diamcor also curtailed its trial mining program during 2023 because of an inconsistent power supply from Eskom, South Africa's national power company. All that, Mr. Taylor says, forced Diamcor to refocus on managing costs and advancing its financing efforts to allow a resumption of trial mining and bulk sampling of new areas at Krone Endora.

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