Lucara Diamond Corp. Announces 2013 Operational Guidelines

Diamond Investing

Lucara Diamond Corp. (TSX:LUC) announced that its board has decided upon its key operational guidelines for 2013. The Company is hoping to increase sales by 75% over 2013.

Highlights of the 2013 outlook include:

Karowe Mine is projected to process 2.5 million tonnes and the Company is forecasting diamond sales of 400,000 carats in 2013, an increase of almost 75% compared to 2012. Eight sales are planned for the year with viewings in both Gaborone and Antwerp.
Karowe operating cash costs are expected to be in the order of $23 per tonne treated, in-line with feasibility projections.
Waste will be stripped to access ore in the Centre and South Lobes. Later in the year waste stripping will also provide access to deeper ore benches in the North Lobe.

Lucara, President and CEO, William Lamb, commented:

The current year has been a successful and rewarding year for Lucara as we transitioned from a developing company into a production company completing construction of our Karowe mine on schedule and on budget. With a dedicated and focused operations team the mine achieved nameplate tonnage within 4 months of completing commissioning while maintaining an exemplary safety and environmental record. By the end of the first year of production Lucara will have sold over 230,000 carats of diamond, including a rare 9.46 carat blue diamond which achieved a record price of over $477,000 per carat. We are focused on continuing to build on the operational performance achieved in 2012 with sales expected to increase by almost 75% in 2013 and operating costs targets in-line with the Company’s feasibility study.