India holds a significant market for diamonds and gold, largely owing to the high demand for jewelry and the company expects to make significant gains in revenue by expanding into the market.
Dolat Ventures president Dovid Hauck said that the company has discovered the gold trend, which would impact future results.
"We continue to focus on expanding our diamond resources at the Baimbawai Pool on the Sewa River, which has shown exciting potential to date.
The company is also locked in preliminary negotiations with other mines within 10 kilometers from Dolat’s mines to make further acquisitions.
"We intend to be drilling and upgrading the resource statement during the fourth quarter of this year and I look forward to updating shareholders as we progress," Hauck added.
In the past few years, several companies including De Beers emphasized investment in marketing diamonds.
