Lucapa Recovers Another +100-ct Stone at Lulo Project, Angola

Mining and Exploration
09/01/2018 12:34

Lucapa Diamond Company Ltd. has announced the recovery of rough diamonds weighing 103 carats and 83 carats, both of which were recovered from Mining Block 8. The 103 carat light brown diamond and 83 carat Type IIa diamond, the company says, "continue to evidence the special nature and potential of the Lulo resource." The 103-carat diamond is the 9th +100 carat diamond recovered to date from Lulo, the largest being the Angolan record 404-carat 4th February Stone which sold for US$16 million in 2016. The latest large stone recoveries follow the recovery in November 2017 of two exceptional Type IIa D-colour gems weighing 129 carats and 78 carats. 

Lucapa requests ASX trading halt

In another ASX market release issued today, Lucapa announced its request for a trading halt. It reads, "Lucapa Diamond Company Limited requests a trading halt to be placed on the Company’s securities effective immediately pending results from the drilling and sampling program at the Brooking Diamond Project in the West Kimberley lamproite field in Australia. The Company requests the securities remain in a trading halt until the earlier of the announcement to the market or the commencement of trade on Thursday 11 January 2018. The Company is not aware of any reason why the trading halt should not be granted." The nature of the announcement is not known, but a trading halt should be expected "Unless ASX decides otherwise."