PJSC ALMAR – Arctic Diamonds, which is developing placer diamond deposits in the north of the Republic of Sakha (Yakutia), reports the results of the evaluation of diamond samples extracted during geological exploration in the period 2016-2022 at the Beenchime and Khatystakh sites.
The diamond samples were sent for a preliminary valuation according to the price list of the Ministry of Finance. ALMAR then sent the full specification of the samples to several Indian, Chinese and Russian diamond dealers and lapidary enterprises. As a result, the market valuation averaged $98.4 per carat for diamonds of the Beenchime subsurface license area and $26.3 per carat for diamonds of the Khatystakh site.
Taking into account the independent assessment of the exploration results, the total value of the mineral resource base in the C1 and C2 reserve categories and the forecast resources of the P1 and P2 categories at both placers exceeded $ 350 million.
Deputy General Director – Chief Geologist Sergey Grakhanov:
“The average cost of diamond samples extracted by us at the Beenchime site turned out to be about 10% higher than the estimate made earlier. The average cost of Khatystakh diamonds has increased by 30%. This is primarily caused by the scale effect – with an increase in the volume of samples, larger and more expensive stones of 2-3 carats in size began to come across and the percentage of fancy (colored) raw materials increased.
To date, we have tested 3 thousand tons of diamond-bearing sands and extracted about 400 carats of diamonds. With the transition to industrial production volumes, the company will extract hundreds of times more annually: 1-1.5 million tons of productive rocks per year. The experience of exploration of indigenous deposits shows that during the transition from the gross sample to industrial mining, the average cost of diamonds increases by about 30%, and from the core sample by about 2 times. We expect a comparable coefficient of industrial diamond content in our placers.”