Lucapa Plans to Extend Mothae Mine Life

RAPAPORT... Lucapa Diamond Company has upgraded its expectations for theMothae mine in Lesotho after recovering a 25-carat yellow diamond at the asset. The miner found the stone in the "neck zone," a part of the minethat it had not accounted for in its resource estimate, the company saidTuesday. Lucapa also found a 6-carat diamond while carrying out trialprocessing of material from that area. The miner will begin processing more samples from the neck,as well as from the north and southeast zone. In so doing, it aims to increaseits estimate of the resources at Mothae, as well as extending its planned minelife, it added. The existing resource estimate for the asset - which itacquired last year for $9 million - exceeded 1 million carats. Lucapa also sold 1,632 carats from its Lulo mine in Angolafor $3 million at a recent tender, achieving an average price of $1,838 percarat, it said. The sale did not include a 46-carat pink diamond the minerrecovered from the asset in May.