Lucapa Diamond Co Earns $7.4M at Seventh Sale of 2017

Mining and Exploration
12/09/2017 14:51

Australian junior miner Lucapa Diamond Company has completed the seventh sale for 2017. The company earned US$7.4 million from the tender of 3,214 carats of rough alluvial diamonds from the Lulo Diamond Project in Angola. This represents an average price of $2,298 per carat, and brings gross proceeds from Lulo diamond sales in 2017 to US$24.3 million, for an average of US$1,640 per carat. The company notes that diamond recoveries and grades have improved at Lulo since the return to the high-value Mining Block 8 and 6 areas, after the Angolan wet season.

Image: Lulo diamonds from the latest sale parcel, including type IIa gems weighing 83 carats and 58 carats and colored stones