Diamcor Loss Widens in First Quarter

RAPAPORT... Diamcor saw its loss more than triple in the first fiscalquarter, as revenue slumped due to weaker production and a lower average priceat its South Africa-based alluvial-mining operation. The company reported a net loss of $1.8 million (CAD 2.3million) in the three months ending June 30, as opposed to a loss of $510,315(CAD 665,599) during the same period last year. During the quarter, the average selling price dropped 34% to$148 per carat, with revenue consequently falling 92% to $148,438 (CAD 193,606).The company did not provide sales-volume or production figures from its SouthAfrican asset. Diamcor owns the Krone Endora at Venetia, which it boughtfrom De Beers in 2008.