Bombed-out gem hopeful Kopane Diamond Developments claims a near-threefold resource increase to 29.6 million carats at Liqhobong in Lesotho.

The AIM-quoted company suggests the ‘indicative value’ of the main pipe at Liqhobing could now have risen 213 per cent to $2.5 billion (£1.7 billion) since last year’s estimate in the light of a newly completed advanced geological evaluation. Kopane now says total tonnage has risen 78 per cent since last year’s estimate to 76 million tonnes, with the average grade up from 27.8 carats per hundred tonnes to 39.2 carats per hundred tonnes and a 23 per cent increase in average ‘run of mine’ carat value to $86.

Executive chairman Tim Read argues Kopane’s new interim resource statement ‘clearly shows the Liqhobong main pipe is a much larger and richer resource than was initially contemplated’. The shares, which had collapsed from 31p to 2.13p between 2006 and earlier this month, have bounced up to 3.12p, valuing the company at £4 million.

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Kopane Diamond Developments	AIM	£3.39m	2.00p	0.00p
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