Lucara Diamond Expects 2014 Revenue of Up to $160 Million

Lucara Diamond Corp. (TSX:LUC) announced its operating performance and capital expenditure guidance for 2014, commenting that its expects to sell 400,000 to 420,000 carats worth of diamonds for $150 to $160 million.

That estimate assumes that the company will hold two exceptional stone tenders.

Other key operational updates include:

• Karowe operating cash costs are expected to be between $31-$33 per tonne treated.
• Mining is forecast at 3.0-3.5 million tonnes of kimberlite of which it is anticipated that 2.2-2.4 million tonnes will be processed through the plant with the remainder being stockpiled.
• Waste mining is scheduled to be approximately 10.0-11.0 million tonnes.
• Building and commissioning of a plant upgrade at Karowe to improve large diamond recovery following continued occurrence of exceptional stones and to enable sustainable processing of harder ore in the south lobe. This is forecast at an expenditure of $45-$50 million.
• Sustaining capital expenditure of $3.5 million is expected.

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