Diamcor (TSX.V: DMI) (OTCQB: DMIFF) (FRA: DC3A) is a well-established Canadian diamond mining company with a proven history in the mining, exploration and sale of rough diamonds. The company has announced its entry into a non-binding letter of intent (“LOI”) for a non-dilutive financing of up to USD $5,000,000 with a well-established Dubai-based manufacturer and supplier of bridal and anniversary diamonds to the global market. “This financing is the result of long-term relationships we have developed with key associates in Dubai over many years, and the mutual vision our companies share on the merits of building a growing supply of gem quality non-conflict natural rough diamonds for the luxury jewelry sector,” said Diamcor CEO Dean Taylor. “While 2024 was a challenging year for everyone in the diamond industry, we believe the factors responsible for this will ultimately begin to stabilize by the second half of 2025, and this financing will help to ensure we are well positioned and ready for this anticipated recovery.”
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About Diamcor Mining Inc.
Diamcor Mining is a fully reporting publicly traded Canadian diamond mining company with a well-established proven history in the mining, exploration and sale of rough diamonds. The company’s primary focus is on the mining and development of its Krone-Endora at Venetia Project, which is co-located and directly adjacent to De Beers’ Venetia Diamond Mine in South Africa. The Venetia diamond mine is recognized as one of the world’s top diamond-producing mines, and the deposits which occur on Krone-Endora have been identified as being the result of shift and subsequent erosion of an estimated 50M tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. Well known Luxury Retailer Tiffany & Co provided the company with financing to expedite the advancement of the project and holds a first right of refusal to acquire rough diamonds under 10.8 carats in size at then market prices for the life of the project. The company focuses on the acquisition and development of mid-tier projects with near-term production capabilities and growth potential and uses unique approaches to mining that involves the use of advanced technology and techniques to extract diamonds in a safe, efficient and environmentally responsible manner. The company has a strong commitment to social responsibility, including supporting local communities and protecting the environment.
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