Bulk sampling conducted at Diamondcorp's Lace Diamond Mine has yielded better results than expected, the company announced last week.

According to miningmx.com, the South African Diamond Exchange has valued the first 561 carats of diamonds out of the 759 carats recovered from 5,515 tons of kimberlite at $205/carat – 71% higher than the company's base case of $120/carat.

Responding to the higher-than-projected per-carat values, Diamondcorp CEO Paul Loudon said that the sharp increase in the value of diamonds from the Lace mine could potentially lower the company's "break-even" grade from 13 carats per hundred tons to 8 cpht – meaning that the Lace Diamond Mine could generate more cash than originally thought.