Lucapa Diamond Co.'s First 2017 Sale Earns $3.8M at $1,276 per Carat

Mining and Exploration
09/02/2017 11:51

Australia's Lucapa Diamond Company, whose main asset is the Lulo diamond project in Angola, has sold a parcel of 2,946 carats of Lulo diamonds earning gross proceeds of US$3.8 million (A$4.9M). This represents an average price per carat of US$1,276 (A$1,671), a far cry from their $2,983 per carat average from the fourth quarter of 2016. The sale comprised diamond recoveries through December 31 2016, and included a 75-carat diamond and a 55-carat diamond. The diamonds in this latest sale were the first to be cleaned by the new diamond deep boiling facility installed at Lulo during the December 2016 quarter.