Diamcor Mining Shifts Back into Black

RAPAPORT... Diamcor Mining returned to profit in the second fiscalquarter, as an efficiency program helped it reduce costs. The miner recorded a net profit of $350,676 for the threemonths ending September 30, versus a loss of $417,368 during the same period ayear ago, it said last week. The company shaved its expenses by reducing its usage of heavyequipment and fuel, it explained. Rough-diamond salesfell 22% year on year to $569,059 for the July-to-September period, as the company produced a higher proportionof smaller, lower-quality stones. It also held one fewer tender than during the same period a year ago. Diamcor primarily processed tailings - the ore remaining after the first round ofprocessing - and previously stockpiled material, as it optimized itsore-retrieval process. The company sold 3,883 carats of rough from its Krone-Endoraat Venetia project in South Africa at an average price of $146 per carat.  Diamcor expects its lowered operating expenses to continueinto the third fiscal quarter ending December 31, it said. Image: Fingers holding a rough diamond. (Diamcor Mining)