Lucapa Posts Largest Sale of Rough Diamonds - $8.3 Million

Mining and Exploration
08/11/2016 09:32

Lucapa Diamond Co., the Australian miner operating their main resource at the Lulo Project in Angola, has annouced their largest single sale of rough diamonds to date: $8.3 million from the sale of parcel of 1,864 carats, representing an average price per carat of $4,452. This is more than was achieved during the entire final quarter of 2015, where three sales tallied $8.1 from three sales, and is equivalent to 65% of the company's entire revenue in 2015. Including this sale, the year-to-date sales of Lulo diamonds now sits at $44.8 million at an average price per carat of $3,132. Lulo alluvial mining company Sociedade Mineira Do Lulo (Lucapa 40% owner/operator) had planned one more diamond sale in Q4 2016, but will likely add an additional sale prior to the end of the year. They currently have over 2,800 carats in inventory, including three +70-carat diamonds.