Diamcor DMIFF with a great sales number and strong prices

Posted on June 15, 2021 by Florian Buschek

Diamcor Increases Revenues to USD $1.2M in First Quarter of New Fiscal Year.

Despite ongoing COVID-19 restrictions limiting processing capacity in the quarter, the Company sold a total of 4,468.04 carats, generating gross revenues of USD $1,208,106, resulting in a combined average price of USD $270.39 per carat.  Approximately 1,500 additional carats, including several rough diamonds in the +10.8 specials category, have been delivered as of the date of this release. These, along with the rough diamonds recovered to the end of June 2021, will be recorded as stock on hand at the end of the period and offered in the Company’s upcoming Q2 tender and sales.

Highlights:

2,122.76 carats of rough diamonds were tendered and sold in an initial offering, generating gross revenues of USD $591,733, for a combined average price of USD $278.78 per carat.

599.72 carats of rough diamonds were tendered and sold in a second offering, generating gross revenues of USD $183,808, for a combined average price of USD $306.49 per carat.

1,745.56 carats of rough diamonds tendered and sold in a third offering, generating gross revenues of USD $432,566, for a combined average price of USD $247.81 per carat.

Breakout Investors were able to accumulate the name below $.12 and these results fit exactly with my current model.

Sales prices are very encouraging especially considering that a number of larger stones went into inventory. We are expecting a sale of those in a tender in June and then in the near term we should see a doubling of the processing volume.

Some discussion happening here.

Disclosure: I am very long DMIFF and DMI.V.

5 2 votes
Article Rating
Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x