Lucapa Sells 404-carat Diamond from Lulo for US$16 Million

Lucapa Diamond Company Ltd. (ASX:LOM) announced that the 404-carat diamond recently recovered from the company’s Angola-based Lulo diamond project has been sold for gross proceeds of AU$22.5 million, or US$16 million.
As quoted in the press release:

This represents a spectacular average price of A$55,585 (US$39,580) per carat, which is a record price for a white diamond recovered from Lulo and is further evidence of the positive sentiment in the market for large high-quality gems like those being recovered from Lulo.

Stephen Wetherall, chief executive of Lucapa, commented:

The sale of a single diamond for US$16 million underline the huge potential of the Lulo diamond field to regularly produce gems which are both large and of world-class quality.
We look to the future with tremendous excitement at Lulo as we continue mining these exceptional alluvial diamond areas, growing our alluvial mining capability and advancing the kimberlite exploration program to locate the primary source or sources of these gems.

Click here to read the full Lucapa Diamond Company Ltd. (ASX:LOM) press release.