Lucara Announces Diamond Value Increases

Lucara Diamond Corp. (TSX:LUC,BOTS:LUC,NYSE OMX:LUC) announced a 24% increase in the average value of diamonds recovered from its Botswana mine.

As quoted in the press release:

In anticipation of production start-up from AK6 in 2012, the Company commissioned an updated valuation of the AK6 diamonds recovered to date, resulting in a 24% increase in overall modeled value to US $301 per carat at a 1.5 mm cut-off size*. This is a significant jump from the 2010 valuation and represents the strong growth in demand for the type and quality of diamonds produced from AK6.

Lucara’s President and CEO, William Lamb said:

AK6 (Karowe) is a strategic project and will soon be our first operating mine. We are fully committed to building one of the best new mines in the industry and look forward to being a major employer and contributor to the local communities in which we will work for many years to come.

Click here to read the Lucara Diamond Corp. (TSX:LUC) press release.