Diamcor to Present at Rodman & Renshaw Annual Global Investment Conference
KELOWNA, BC, Sept. 6, 2011 /CNW/ --
TSX.V Symbol (DMI)
OTCQX Symbol (DMIFF)
KELOWNA, BC, Sept. 6, 2011 /CNW/ - Diamcor Mining Inc. (TSX-V.DMI / OTCQX-DMIFF) (the 'Company') a historical supplier of rough diamonds to the world market with a
proven operational history is pleased to announce that Mr. Dean Taylor
will be presenting at the annual Rodman & Renshaw Global Investment Conference taking place at the
Waldorf Astoria Hotel in NYC form September 11-13, 2011. As previously announced, the Company recently acquired the near-term
production potential Krone-Endora at Venetia Diamond Project from
DeBeers, and established a long-term strategic alliance and financing
with world famous New York based Tiffany & Co.
The Company's presentation will take place on September 13, at 4:55 EDT. A live webcast of the presentation will be available at http://www.wsw.com/webcast/rrshq20/dmi.cn, and on the Company's website at www.diamcormining.com.
In addition to presenting, Management will be participating in
one-on-one meetings throughout the conference to discuss the Company's
strategic plans for initial rough diamond recoveries and its planned
production targets in the coming months and years at Krone-Endora.
Interested parties who wish to meet with Diamcor's Management should
contact Mr. Christopher Lucas at Rodman & Renshaw. The Conference will
host in excess of 4,000 attendees (including private equity funds,
institutional investors, sophisticated private investors and company
executives). Participation in the conference is by invitation only.
About Diamcor Mining Inc:
Diamcor Mining Inc. is a fully reporting publically traded junior
diamond mining company which is listed on the TSX Venture Exchange
under the symbol V.DMI, and on the OTC QX International under the
symbol DMIFF. The Company has a well-established operational and
production history in South Africa, and extensive experience supplying
rough diamonds to the world market. Rather than exposing itself to the
high risks and costs associated with exploration, the Company's focus
is on the identification, acquisition, and operation of quality
near-term production based diamond projects such as the Krone-Endora at
Venetia Project recently acquired from DeBeers. The Company has also
established a long term strategic relationship with New York based
Tiffany & Co. for the future supply of diamonds from the Krone-Endora
Diamond Project. For additional information on Diamcor, please visit
our website at www.diamcormining.com.
About Krone-Endora at Venetia Project:
On February 28, 2011, Diamcor successfully completed the acquisition of
the Krone-Endora at Venetia Project (the 'Project') from De Beers. The
Project consists of the prospecting rights over the farms Krone 104 and
Endora 66, which represent a combined surface area of approximately
5,888 hectares directly adjacent to De Beers' flagship Venetia Diamond
Mine in South Africa. De Beers previously completed various
exploration efforts on initial areas of interest comprised of
approximately 310 hectares, a summary of which has been reported in an
initial Independent NI 43-101 Technical Report filed by the Company on
July 30, 2009. The deposits which occur on the properties of Krone and
Endora are proposed to be the result of the combined shift and erosion
of an estimated 1,000m (1 km) of material from the higher grounds of
the adjacent Venetia kimberlite areas to the lower surrounding areas
including those of Krone and Endora. Since acquiring the Project the
Company has completed the drilling of an additional 469 targets, and is
targeting a move to large scale bulk sampling and the initial
recoveries of rough diamonds from the Project prior to the end of
2011. Site preparations and the delivery of production related
equipment to support this planned move are underway. The deposits on
Krone-Endora occur in two layers with an average total depth of only
/-15.0 metres from surface to bedrock, allowing for a very low-cost
mining operation to be employed, and the potential for near-term
diamond production from a known high-quality source. Krone-Endora also
benefits from the significant development of infrastructure and
services already in place due to its location directly adjacent to
DeBeers Venetia Mine.
Strategic Tiffany & Co. Alliance:
As announced on March 29, 2011, the Company has established a long-term
strategic alliance with world famous New York based Tiffany & Co. to
purchase up to 100% of the future production of rough diamonds from the
Krone-Endora at Venetia Project at then current market prices. To
expedite the production and supply of rough diamonds from Krone-Endora
at Venetia, Tiffany & Co. also provided the Company with additional
financing for the Project. Tiffany & Co. is a publically traded
company which is listed on the New York Stock Exchange under the symbol
TIF. Originally founded in 1837, the Tiffany's name is now globally
recognised as one of the premier luxury jewellery and specialty
retailers in the world. Through Tiffany & Co. and various other
subsidiaries, the company is engaged in product design, manufacturing,
and retailing activities on a global basis. As of January 31, 2011
Tiffany & Co. operates 233 retail stores and boutiques in the Americas,
Japan, Asia-Pacific, and Europe and engages in direct selling through
internet, catalog and business gift operations. For additional
information on Tiffany & Co., please visit their website at www.tiffany.com.
On behalf of the Board of Directors
Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
DTaylor@diamcormining.com
Phone: (250) 864-3326
Website: www.diamcormining.com
This press release contains certain forward-looking statements. While
these forward-looking statements represent our best current judgement,
they are subject to a variety of risks and uncertainties that are
beyond the Company's ability to control or predict and which could
cause actual events or results to differ materially from those
anticipated in such forward-looking statements. Further, the Company
expressly disclaims any obligation to update any forward looking
statements. Accordingly, readers should not place undue reliance on
forward-looking statements.
WE SEEK SAFE HARBOUR
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release
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To request a one-on-one meeting, please contact:
Rodman & Renshaw
Mr. Christopher Lucas
clucas@rodm.com
1 (212) 356-0501
For More Information on Diamcor, please contact:
Diamcor Corporate Communications
Renee Brickner
rbrickner@diamcormining.com
1 (604) 802-6806