Lucapa Releases First Half 2018 Results

- September 13th, 2018

Lucapa is diamond development and production company, its flag ship project is the Lulo diamond mine in Angola. 

Lucapa Diamond Company (ASX:LOM) has released its financial and operational results for the first half of 2018. Highlights of the report include a 15 percent year-over-year production spike.

Lucapa is diamond development and production company, its flag ship project is the Lulo diamond mine in Angola.

As quoted from the press release:

Lucapa, with its respective project partners, made significant advancements across its suite of diamond projects during the six months that ended June 30, 2018, including:

  • Mining large premium-value diamonds at Lulo, continuing to deliver the world’s highest US$ per carat alluvial diamond production
  • Continuation of the systematic drilling program at Lulo, funded from Lucapa’s alluvial mining returns, aimed atidentifying the kimberlite source of the exceptional alluvial diamonds
  • Developing a second high-value diamond mine at the Mothae kimberlite project in Lesotho, while recovering large special diamonds up to 89 carats from a concurrent bulk sampling  designed to expand on the current published JORC resource
  • Launching an extensive exploration and drilling program at the Brooking project in the West Kimberley to follow up on the spectacular micro and macro diamond recoveries at Little Spring Creek

A total of eight 50+ carat diamonds were recovered during the June half, including two 100+ carat stones. Other special recoveries include a 43 carat yellow and a 46 carat pink coloured diamond.

The diamond production increases were generated from a 5 percent rise in mining volumes to 134,540 bulk cubic metres- a record rate for a half year period.

Click here to read the full report

Find out what experts are saying about the future of cannabis

Read our new report today


Get the latest Australia Investing stock information

Get the latest information about companies associated with Australia Investing Delivered directly to your inbox.

Australia Investing

Select All
Select None

Leave a Reply

Your email address will not be published. Required fields are marked *