diamond news, page-2643

No worries my grammar probably wasn't great, doesn't help typing on phone

LOM has been trying to highlight for a while now, with the prices they are acheiving a diamondiferous kimberlite will be economical regardless of ore grade.

The acquisition of mothae also highlighted this through the reference to letseng.

Before the GFC decimated diamond prices, letseng had an insitu valuation of US$4.7bn and this was only at grade of 2.09cpht or 0.018cts/T. Normal mines usually require 100cpht+ to be economical and only 1% of kimberlites ever achieve this. Luckily Lulo is in a different class similar to letseng.

Gem diamonds has been smashed with write offs over the last 9 years, over €1bn if I'm correct, but letseng has kept it afloat all this time even with depressed diamond prices.

So unless China has a hard landing or Kim Jong rocket man launches a nuke, then hitting diamondiferous kimberlight around mining block 8 will be economical and is a guaranteed winner. Hopefully then FOMO will drive the price up with any anticipated bulk sampling results