Lucara Diamond Announces First Sale

Lucara Diamond Corp. (TSX:LUC,BOTS:LUC,NASDAQOMXFirstNorth:LUC) announced its first sale of 26,196 carats of Karowe diamonds through its new online auction system.

As quoted in the press release:

A total of 35 individual lots containing 29,339 carats of diamond were put up for sale through the on-line auction. Of the 35 lots, 30 were sold for a total revenue of $5.64 million at an average diamond value of $215/ct. Of the diamonds sold, the parcel included a 25.9ct stone which sold for $5,022/ct.

Lucara’s President and CEO, William Lamb said:

With the first sale of Karowe production Lucara has achieved the final milestone in its transition to an operating company. It is a direct reflection of the current status of global markets that not all diamonds were sold during this first auction, however, we are extremely bullish about the market outlook overall and look forward to our future sales. Our new Karowe mine produces high quality diamonds and we can expect to always see steady demand regardless of the cycle the market is in.

Click here to read the Lucara Diamond Corp. (TSX:LUC) press release.