Lucara Raises Large-Stone Forecast at Karowe

RAPAPORT... Lucara Diamond Corp. will focus on the high-value section ofits Karowe mine that produced the 1,109-carat Lesedi La Rona, after a surveyindicated the area contained more large stones than previously predicted. A sample of 13,562 carats from the south lobe's EM/PK(S)unit yielded 47 diamonds weighing more than 10.8 carats, including one over 100carats and six greater than 50 carats, Lucara said last week. The south sectionof Karowe is the most lucrative area the company is currently mining, with aforecast average selling price of $716 per carat. By comparison, diamonds from the north lobe have an average value of$222 per carat, while Lucara estimates stones from the center lobe at $367 percarat. EM/PK(S) is the most valuable part of the south lobe,containing diamonds with a potential average selling price of $753 per carat,based on the new sample. While the miner initially believed EM/PK(S) wouldprovide 12% of the south lobe's total carats, the new study increased thatoutlook to 51%. "Going forward, the Karowe mine plan is dominated by south-lobeore, with the high-grade, high-value EM/PK(S) unit becoming increasinglyprevalent as we mine deeper," Lucara CEO Eira Thomas said last week.