Diamcor Mining Reports Positive Cash Flow In 3rd Fiscal Quarter Results

Diamcor Mining Inc. (TSXV:DMI,OTCQX:DMIFF) reported that for the fiscal quarter ended December 31, 2013, the Company generated gross revenues of $1,396,591 net of commissions and fees, and realized positive cash flow from operations during the quarter.

As quoted in the press release:

For the fiscal quarter ended December 31, 2013, the Company sold 3,955 carats of rough diamonds generating gross revenues of $1,396,591 net of commissions and fees, as compared to gross revenues of $539,980 net of commissions and fees during the same period in the prior fiscal year.

During the three month period ended December 31, 2013, the Company incurred operating expenses of $573,720, and general and administrative expenses of $799,572. The Company realized income from operations of $23,299 during the quarter, as compared to a loss from operations of $903,302 for the same period in the prior fiscal year. The Company realized $667 from other income and expense, and a reduction of deferred tax of $97,951, which resulted in Net Income for the quarter ended December 31, 2013 of $121,917, as compared to a Net Loss of $901,062 for the same period in the prior fiscal year. The Company realized positive cash flow from operations during the quarter as compared to negative cash flow from operations for the same period in the prior fiscal year.

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