Diamcor Mining is a junior diamond explorer based in Canada, but with operations in South Africa.

Diamcor has been trying hard for several months now to complete a 30 cent financing. Funds will be used to acquire the Krone 104 and Endora 66 claims in South Africa.

A 43-101 Technical Report on these claims suggests an Inferred Resource of 54,258,600 tonnes containing 1.3 million carats of diamond.

So, with a Technical Report in hand - why is this financing still dragging on?

Simple. In the world of diamonds, the metric used to determine the economic viability of a project is carats per hundred tonnes(cpht).

Do some simple math and you see that on these claims the cpht is 2.4.

Now compare this figure to something like Shore Gold in Canada. On Shore's Star Kimberlite project, there is 151.7 million tonnes of indicated resource containing 14 cpht and an inferred resource of 26.2 million tonnes with 12 cpht.

14 cpht .....2.4 cpht. Now, which would you choose ?

If you said you would choose the Shore Gold story with its higehr cpht, then you are correct and you have just answered the question  - why is the Diamcor financing still not wrapped up after 3 months of trying?

I think I will take a pass on Diamcor. For me and my money, 2.4 cpht just does not have enough glitter to it...