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Lucara Achieves US$54.8 Million from Its First Exceptional Stone Tender of 2017
May. 12, 2017 09:07AM PST
Gem InvestingLucara Diamond Corp. (“Lucara” or the “Company”) (TSX:LUC)(BOTSWANA:LUC)(NASDAQ OMX Stockholm:LUC) is pleased to announce results from its first Exceptional Stone Tender (“EST”) of Karowe diamonds in 2017 and its eleventh EST since mining began in 2012. The tender consisted of 15 single stone lots, ranging from 373.72 carats to 29.90 carats in size, totaling 1765.72 …
Lucara Diamond Corp. (“Lucara” or the “Company”) (TSX:LUC)(BOTSWANA:LUC)(NASDAQ OMX Stockholm:LUC) is pleased to announce results from its first Exceptional Stone Tender (“EST”) of Karowe diamonds in 2017 and its eleventh EST since mining began in 2012. The tender consisted of 15 single stone lots, ranging from 373.72 carats to 29.90 carats in size, totaling 1765.72 carats and achieved gross revenues of US$54.8 Million (US$31,010 per carat).
As quoted in the press release:
William Lamb, President and CEO, commented, “Now in its fifth year of production, Karowe continues to deliver strong, consistent, results from its Regular and Exceptional Tenders, demonstrating the robust nature of the orebody and the predictable contribution from large, high value diamonds (+10.8 carat specials).
This tender achieved a price in excess of US$31,000 per carat, further evidencing the continued, strong demand for our diamonds in the marketplace. To date, the Company has sold 145 diamonds for more than US $1 Million each, bringing in revenues of greater than US$528 Million. These strong cashflows support the Company’s dividend policy and growth strategy.”