Lucara Provides Operating Outlook for 2015

Lucara Diamond Corp. (TSX:LUC) provided its operating performance and capital expenditure guidance for 2015.

Highlights are as follows:

• 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.

William Lamb, president and CEO of Lucara, stated:

Lucara had a successful year in 2014, generating strong cash flows through the achievement of its production targets at lower than forecast operating costs and from significant revenues generated from the sale of its large and exceptional diamonds during the year.

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