London, England — MININGREVIEW.COM — 11 September 2009 – AIM-listed Kopane Diamond Developments Plc has raised the indicated resource estimate at its main satellite pipe in the southern African kingdom of Lesotho by 141%.
In a statement issued here, Kopane said the estimated main pipe value of US$2.6 billion (R20 billion) could be increased significantly, following further work to clarify grade, and from the impact of bonanza stones. The company added that it was able to demonstrate significantly higher confidence in the recoverable resource.
“The indicated kimberlite category at the main pipe of 38.6 million tonnes represents over 15 years of production at over 1 million carats a year, which also better supports project financing alternatives for construction of a new processing plant,” said Kopane, which has two projects “’ one in Lesotho and another in Finland.
The company went on to say that it was reviewing the feasibility of a further significant bulk sample from the areas of the main pipe at Lesotho’s Liqhobong production and development project which have already produced large stones.
Shares of the company were up 9.72% at 19.75 pence this morning on the London Stock Exchange.