DMIFF - Shares Up as Miner Recovers Large Diamond

2023-03-13 11:09:36 ET

Is it time to invest in diamond miners? While shares of these miners initially dropped during the pandemic, %Diamonds can also be considered as an inflation hedge.

Junior diamond miner, %DiamcorMining ()() announced the recovery of a 45.15 carat gem quality rough diamond from the processing of quarry material at the Company's Krone-Endora at Venetia Project in a press release today. This large rough diamond follows the previously recovered 72.53 carat gem quality rough diamond announced on February 21, 2023.

Along with the pending sale of approximately 2,000 additional carats, the recovery of this second large gem quality rough diamond is expected to positively impact revenues and offset the lower than anticipated current processing volumes associated with the ongoing power load-shedding currently being experienced in South Africa.

Canadian shares last traded up at $0.16.