Lucara Diamond Reports 2015 Revenue of $224 Million

Lucara Diamond Corp. (TSX:LUC) released its operational results for 2015, commenting that it achieved revenue of $224 million during that period. At the end of the year, it had a cash position of $134.5 million.
Other financial highlights include:

• EBITDA for the period year was $134 million (2014: $173.4 million), with an EBITDA margin of 60%. Return on equity was 30%.
• Net cash position $134.5 million (2014: $100.8 million).
• Year to date costs at $29 per tonne ore processed were well controlled and were below forecast.
• Plant optimization, bulk sample plant project and sustaining capital costs were all within forecast.
• Full year earnings per share were $0.21 per share (2014: $0.13 per share).
• 2015 year end diamond inventory includes over 60,000 carats. The Company’s first exceptional stone tender is closing on April 13, 2016, which excludes the three large stones recovered and announced in November 2015.

William Lamb, president and CEO of Lucara, commented:

2015 was a year of strong operational delivery with the timely completion of our plant optimization project and large diamond recovery, culminating in the recovery of the second and sixth largest gem quality diamonds ever to be unearthed. Our continued focus on cost control and our disciplined deployment of capital has resulted in the Company achieving a 30% return on equity and with our strong cash generation has enabled the introduction of a progressive dividend for our shareholders going forward.

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