Perth, Western Australia, June 3, 2019 - Lucapa Diamond Company Limited (ASX: LOM, FSE: NHY, ISIN AU000000LOM6) („Lucapa“ or „the Company“), Empresa Nacional de Diamantes E.P. (“Endiama”) and Rosas & Petalas (“the partners”), are pleased to announce the results from the latest sale of diamonds from the Lulo alluvial mine in Angola.
The run of mine parcels totalling 5,573 carats of Lulo diamonds achieved gross revenues of US$10.0 million (A$14.5 million), representing an average price of US$1,800 per carat.
This took total sales of Lulo diamonds to date in H1 2019 to US$22.1 million achieving an average price per carat of US$3,668, further underling Lulo’s status as the world’s highest average price alluvial diamond production.the results from the latest sale of diamonds from the Lulo alluvial mine in Angola. The run of mine parcels totalling 5,573 carats of Lulo diamonds achieved gross revenues of US$10.0 million (A$14.5 million), representing an average price of US$1,800 per carat. This took total sales of Lulo diamonds to date in H1 2019 to US$22.1 million achieving an average price per carat of US$3,668, further underling Lulo’s status as the world’s highest average price alluvial diamond production.
Run of mine Lulo diamonds included in the latest US$10.0 million sale.
The sale excluded several high-value diamonds which remain held in inventory by Lulo alluvial mining company Sociedade Mineira Do Lulo (“SML”) (Lucapa 40% and operator). These diamonds include the 130 carat Type IIa D-colour diamond and a 46 carat pink.
As previously foreshadowed, SML is undertaking a self-funded expansion of its Lulo diamond mining operations to deliver a ~50% increase in annualised plant throughput to approximately 450,000 bulk cubic metres by 2020.
130 carat Lulo diamond (post-boiling) recovered in May 2019 held in inventory.
The latest Lulo diamond sale closely follows the US$3.5 million sale of diamonds from Lucapa’s second high-value mine, the Mothae kimberlite mine in Lesotho (Refer ASX announcement 29 May 2019).
To the extent that announcement contains references to prior exploration results and Mineral Resource estimates, which have been cross referenced to previous market announcements made by the Company, unless explicitly stated, no new information is contained. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.
Forward Looking Statements
This announcement has been prepared by the Company. This document contains background information about the Company and its related entities current at the date of this announcement. This is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this announcement.
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No responsibility for any errors or omissions from this document arising out of negligence or otherwise is accepted. This document does include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of the Company. Actual values, results, outcomes or events may be materially different to those expressed or implied in this announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements. Any forward-looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and ASX Listing Rules, the Company does not undertake any obligation to update or revise any information.
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Source: Company websites