Lucapa Values Mothae Resources at $1,063/ct.


RAPAPORT…

The Mothae mining project in Lesotho contains mineral
resources worth an estimated $1,063 per carat, according to Lucapa Diamond
Company, which recently acquired the asset.

Mothae holds 1.04 million carats of diamond resources,
with a grade of 2.7 carats per 100 tonnes of ore, the miner said on Friday. The
figures resulted from an independent estimate carried out by The MSA Group, a
mining consultancy firm based in Johannesburg.

Resources are the quantity of material in a mine that has reasonable prospects
for being extracted economically – in contrast to reserves, which are actually
known to be mineable at a profit.

Lesotho’s government awarded Lucapa a 70-percent interest in the mine in
January in an acquisition valued at $9 million. The company also owns the Lulo
mine in Angola, which last year produced diamonds that sold for an average of
$2,983 per carat.

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