I purchased a bag of diamonds and used them to get a pouch of compasses. Can't find my pouch of compasses..

Compasses are not stored in a bag. Even though a bag of 5 compasses is pictured in the Tips Shop, the compasses go directly toward opening the next plot of land.

I think you need a certain number of compasses (of the 33 needed) before the icon will show up on the next section. But if you click on the clouds it might show you how many compasses you have… good luck!