Lucapa Sells Additional Alluvial Diamonds for AU$4 Million

Lucapa Diamond Company (ASX:LOM) and its partners, Empresa Nacional de Diamantes and Rosas & Petalas, announce it has completed a further sale of alluvial diamonds from the Lulo Diamond Project in Angola.

Lucapa is a diamond mining company with a portfolio of high-quality production, development and exploration assets in Angola Lesotho  Australia and Botswana.

The company’s primary focus is on high-value diamond production  designed to protect cash flows in a sector of the diamond market where demand remains robust. Lucapa’s flagship asset is the Lulo Diamond Project in Angola, which is a prolific producer of large and premium-value alluvial diamonds. Lulo has produced 10 +100ct diamonds to date and is the highest US$ per carat alluvial diamond production in the world.

Currently, Lucapa and its Lulo partners operate three drill rigs as part of an ongoing exploration of the kimberlite project. Earlier this month Lucapa announced the discovery of a large gem-quality 46 carat pink diamond at Luolo. The massive pink gemstone is the largest gem-quality recovered from the mine to date.

As quoted in the press release:

The parcel of 1,632 carats achieved gross sale proceeds of AU$4 million (US$3 million) representing an average price per carat of US$1,838. The parcel did not include the gem-quality 46 carat pink diamond or other large special diamonds recovered recently from new mining block 4.

Click here to read the full press release