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DiamondCorp Raises Pricing Forecast for Lace Mine
Mar 3, 2016 3:11 AM
By Rapaport News
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RAPAPORT... DiamondCorp forecast a value of $164 per carat in the current market for diamonds recoverable from its Lace mine in South Africa, an increase from $160 in March 2012.
The price does not include values achieved from the recovery of special stones, for which Lace was renowned during its previous production period before the Great Depression, according to a statement March 2.
The recoverable diamonds from the mine at a bottom screen size of 1.25 millimeters is estimated at 9.4 million carats, compared with 13.4 million carats at a 1-millimeter screen size in March 2012 figures.
“The new resource and reserve statements provide a much higher level of confidence in the estimated grade and carat value of the Lace deposit,” said Paul Loudon, chief executive officer of DiamondCorp. “This confirms the potential for high operating margins increasing with depth which was one of the factors which attracted us to the project from the outset.
“The actual carat value achieved will be known when we commence diamond sales in Antwerp in the last week of March.”
DiamondCorp, listed on the London Stock Exchange’s Alternative Investment Market (AIM) and the Johannesburg Stock Exchange (JSE), owns 74 percent of the Lace mine, located in the Free State Province.
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Tags:
DiamondCorp, diamonds, Lace Mine, Rapaport News, South Africa
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