The Conversation (0)
Lucara mines and produces large exceptional diamonds from its 100 percent owned Karowe Mine in Botswana.
Lucara Diamond (TSX:LUC,BSE:LUC) has released its second quarter of 2018 financial and operational results. Lucara mines and produces large exceptional diamonds from its 100 percent owned Karowe Mine in Botswana.
As quoted from the press release:
- Karowe’s overall performance with respect to ore mined, processed and carats recovered was within forecast for the second quarter ended June 30, 2018:
- Ore and waste mined was 0.7 million tonnes and 4.4 million tonnes respectively
- Ore processed totaled 0.7 million tonnes
- 253 specials (single diamonds larger than 10.8 carats) were recovered during the second quarter, representing 10.5 percent of the total recovered carats by weight and the highest number of specials recovered by quarter since initiating production
- 100 of 253 specials recovered were sold during the quarter, the remainder having been recovered after the cut-off date to prepare goods for sale
- 11 diamonds were recovered greater than 100 carats in weight, including 3 diamonds > 300 carats (5 of which were sold during the period, including 2 diamonds> 300 carats)
- 12 diamonds sold in excess of US$1 million each
“The Karowe mine continued to perform well in the second quarter, underpinned by the continued, consistent recovery of specials (single diamonds greater than 10.8 carats). A total of 253 specials were recovered during the period, representing 10.5 percent of the total carats by weight and the highest number since operations began. In addition, we announced an updated mineral resource that increased indicated resources by 44 percent and better defined the increasing contribution of the high value EMPK/S unit as we mine deeper in the south lobe,” said Eira Thomas, president and CEO.