BOTSWANA DIAMOND company African Diamonds yesterday announced it had increased the valuation of its AK6 diamond yields following a resource update.

In a statement, the Irish Aim-listed company said the AK6 resource report estimates a resource of just over 51 million tonnes at an average grade of 22 carts per hundred tonnes (cpht) and an average modelled diamond value of $194 (€144.6) per carat.

This is an increase of $32 per carat to the valuation given earlier this year by Shlomo Tidhar of Mercury Diamonds and $55 per carat higher than the value used in the current mine feasibility study.

This is an inferred resource of approximately 20 tonnes at an average grade of 19 cpht and an average modelled diamond value of $183 per carat. These latest figures compare to an indicated resource of 40 million tonnes and an inferred resource of 31 million tonnes. The resource update was done as part of an ongoing feasibility study and echoes the NI 43-101 report filed by joint venture partner Lucara. A NI 43-101 protects investors from unsubstantiated mineral project disclosures.