I lost 10 or so diamonds in lava earlier today, as well as a diamond pick, shovel and axe. It was the only time it's happened to me so far but it still sucks (I swear I used the water bucket in time...). I also have plenty of redstone which you can nab if you like but I'm probably so far out of your way that it would be quicker to just mine some more.
:-PEDITED: 3 Aug 2011 22:02 by OZGUR