Lucara Posts 2015 Operating Outlook, Expects Revenue of $230 to $240 Million

Lucara Diamond Corp. (TSX:LUC) released its operating outlook for 2015, envisioning revenue to hit $230 to $240 million from sales of 400,000 to 420,000 carats of diamonds. The building and commissioning of its Karowe plant optimization project is also forecasted to be completed during the second quarter of 2015 for a total cost of $55 million.

According to the press release, forecasted highlights include:

• Revenue of $230 to $240 million is expected from the sale of 400,000 to 420,000 carats of diamonds in 2015.
• Karowe operating cash costs are expected to be between $33-$36 per tonne treated.
• Mining is forecast at 2.5-2.8 million tonnes of kimberlite.
• Waste mining is scheduled to be approximately 12.0-12.5 million tonnes.
• The Company is forecasting to process between 2.3-2.5 million tonnes through the plant.
• Building and commissioning of Karowe’s plant optimization project is forecast to be complete during the second quarter of 2015 for a total cost of $55 million of which $40 million is forecast to be spent in 2014.
• The Company expects to spend $7.0-$8.0 million on exploration work, to be conducted on its two prospecting licenses awarded in 2014.
• Sustaining capital expenditure is forecast between $7.5-$8.5 million including a one time expenditure to purchase mill relining equipment for an expenditure of $5 million of which $3 million is to be spent in 2015.

William Lamb, the president and CEO, said:

The Company is forecasting to build on its strong cash balance to position itself for growth opportunities at Karowe while continuing to return income to our shareholders in 2015 in line with our current dividend policy.

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