10 Rocks Net Lucara Diamond $32.5 Million at Exceptional Stone Tender

Mining and Exploration
20/06/2018 13:42

Lucara Diamond Corp.,a leading producer of large exceptional quality Type IIa diamonds from its 100% owned Karowe Mine in Botswana, achieved $32.48 million at its 12th Exceptional Stone Tender which concluded yesterday. The tender consisted of 10 single stone lots, ranging from 472.37 to 40.4 carats in size, totaling 1,453.06 carats and included two diamonds greater than 300 carats.

A 327.48 carat diamond sold for $10.1 million ($30,900/ct), while four diamonds sold for in excess of $3 million each, and all 10 tendered stones sold for more than $1.0 million each. The overall average price achieved at the tender was $22,356 per carat, while the average price per carat when excluding the 472.37 carat top light brown diamond, was an exceptional $30,712 per ct. The company did not release the sale price for the 472-carat stone, the third largest diamond ever recovered at the Karowe mine. The Exceptional Stone Tender was comprised of diamonds produced during 2018.

Eira Thomas, CEO of Lucara, commented, "Several diamonds recovered from the EM/PK(S) unit during February and April of this year. The quality of Karowe's large diamonds continues to attract the attention of the World's foremost manufacturers and diamantaires with 29 companies attending the sale and 8 individual companies winning lots." Lucara has now sold 168 diamonds for in excess of $1 million and 10 single diamonds have been sold for more than $10 million. The average price per carat for Karowe diamonds sold year to date is $893.3 per ct.