Mothae to test diamond market

[miningmx.com] — Lucara Diamonds announced on Wednesday that its subsidiary Mothae Diamonds would be holding its first diamond sale during the period of March 21 to March 28 in Antwerp, Belgium.

Mothae is offering approximately 8,500 carats of diamonds produced from bulk sampling and trial mining at the Mothae kimberlite in Lesotho.

The sale will be conducted by sealed tender in terms of an agency agreement between Mothae and A.G.M. Diamond Expertise and will be held at the offices of Bonas-Couzyn N.V. in Antwerp.

“This is an important milestone for the Mothae project as it will provide us with the first true price discovery for Mothae production and will greatly enhance our ability to understand the economic drivers for Mothae,” said William Lamb, President and CEO of Lucara.

Mothae is conducting a trial mining program of up to 720,000 tonnes on the Mothae kimberlite in Lesotho. Lucara Diamonds is a 75% shareholder in Mothae and the government of Lesotho is a 25% shareholder.