Lucapa Earns AU$2.7 Million From Lulo Diamond Sale

Lucapa Diamond Company (ASX:LOM) and its partners Empresa Nacional de Diamantes EP and Rosas & Petalas have completed the first sale of alluvial diamonds for H2 2018 from the Lulo Diamond Project in Angola.

International diamond miner, Lucapa’s flagship asset is the Lulo Diamond Project in Angola, where large and premium-value alluvial diamonds have been discovered. To date Lulo has produced 11, 100 carat or larger diamonds and is the highest US$ per carat alluvial diamond production in the world.

As quoted from the press release:

The parcel of 2,527 carats achieved gross sale proceeds of US$2.0 million (AU$2.7 million), representing an average price per carat of US$800 (AU$1,079).

This July sale excluded four large white Specials and a pink coloured Special which have been held for sale later this year. These included three large white and a coloured Special recovered in H1 2018 (Figure 2), along with a 114 carat diamond recovered earlier this month. Subsequent to the ASX announcement of July 11, 2018, deep boiling of the 114 carat stone has confirmed it is a Type IIa top-colour white diamond.

Click here to read the full press release