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

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