Higher Average Price Drives Diamcor Rise

RAPAPORT... Revenue at Diamcor Mining increased 3% during the mostrecent fiscal year, boosted by a higher average price, the miner said Monday. Rough-diamond sales rose to $4.6 million during the 12months ending March 31, the company reported. Average selling prices jumped 42%to $194 per carat, compared with $137 per carat a year earlier. By volume, sales fell 27%to 23,765 carats as lower processing levels resulted in a decline inproduction. The higher revenue was partly due to sales of 2- to5-carat rough diamonds, a relatively strong category during the period, the company noted. Prices in the industry remained weakfor smaller, lower-quality stones, it added. The miner's net loss - which it refers to as totalcomprehensive loss - doubled to $3.1 million (CAD 4 million) from $1.5 million(CAD 2 million) a year ago due to higher operating expenses. Diamcor sources its rough from the Krone-Endora at Venetiamine in South Africa.