Lucara Revenues for First Exceptional Tender Exceed US $51 Million
Lucara Diamond Corp. [LUC-TSX], who produces high quality diamonds from its Karowe Mine in Botswana, announced the results from its first Exceptional Stone Tender of 2016.
The special tender of Karowe diamonds was completed on April 13, 2016 and consisted of 10 single stone lots. All 10 diamonds, totaling 1,525 carats, were sold for gross revenues of US $51.3 million (US $33,632 per carat).
Highlights:
7 diamonds sold for more than US $2.0 million each, including 4 stones which sold for in excess of US $5.0 million each
Lot 901, the 296.7 carat Type IIa diamond sold for US $12.19 million (US $41,088/ct)
Lot 904, the 245.4 carat diamond sold for US $10.49 million (US $42,738/ct)
Lot 903, the 119.0 carat diamond sold for the highest price per carat of US $58,931/ct.
For the brochure and images of the diamonds sold in this and previous Exception Stone Tenders, please visit the Lucara website at www.lucaradiamond.com.
William Lamb, President and CEO, commented, “The results from this tender continue to demonstrate the strength of the exceptional stone market. We are very pleased with the quality of the diamonds being recovered which is evident in the consistent average value per carat achieved.”
Lucara is a well-positioned diamond producer. The company has an experienced board and management team with extensive diamond development and operations expertise. The company’s main producing asset is the 100% owned Karowe Mine in Botswana. Lucara also conducts exploration activities and holds two precious stone prospecting licenses close to its Karowe Mine.