Lucara’s First 2014 Exceptional Stone Tender Generates $50.47 Million

Lucara Diamond Corp. (TSX:LUC) announced the results of its first Exceptional Stone Tender of the year, commenting that the tender of 20 lots (1,191 carats) sold for gross revenues of $50.47 million, or $42,347 per carat.

As quoted in the press release:

The highest value stones sold were a 167.1 carat and an 86.8 carat diamond which sold for $12.7 million ($75,821/ct) and $5.1 million ($58,627/ct) respectively. Of the 20 diamonds on offer 15 of these sold for more than $1.0 million, including 8 which sold for more than $2.0 million.

In addition to the exceptional stone tender, the Company held two regular diamond tenders in the first quarter of 2014. A total of 107,500 carats were sold for combined revenues of $33.6 million. This together with the exceptional stone tender brings the total year-to-date revenues to $84.06 million equal to $782 per carat.

William Lamb, Lucara’s president and CEO, commented:

Strong regular tenders combined with the outstanding results from the exceptional stone tender continue to demonstrate the quality of the Karowe Mine and firmly establishes Karowe as one of the world’s leading diamond producers by value, further reinforcing the updated resource statement issued in December 2013.

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