Lucapa Diamond Co. Banks $5.5 Million from First Sales of 2020

Rough Market
12/02/2020 15:51

Lucapa Diamond Co. and its partners today announced its first run of mine diamond sales from the Lulo alluvial mine in Angola and the Mothae kimberlite mine in Lesotho generated combined gross proceeds of US$5.5 million (A$8.2 million). 

At the Sociedade Mineira Do Lulo (Lulo project), in which Lucapa is 40% owner and operator, a total of 1,548 carats of Lulo diamonds sold for gross proceeds of US$3.4 million (A$5.0 million), representing an average price per carat of US$2,200 (A$3,251). The sale included the 84-carat Lulo gem pictured, and the average price earned outstripped the average price per carat for all 2019 sales of Lulo diamonds, US$1,918 (A$2,751), announced on December 16 as US$1,918 (A$2,751). Revenue from Lulo in 2019 totaled US$38.5 million (A$55.2 million).

From Mothae Diamonds Ltd (“Mothae”), of which Lucapa owns 70%, a total of 6,306 carats of Mothae diamonds sold at tender for gross proceeds of US$2.1 million (A$3.2 million), representing an average price per carat of US$339 (A$506), which is significantly lower than the average price earned last year. 2019 sales of Mothae diamonds totaled US$16.5 million (A$23.8 million) at an average price per carat of US$575 (A$830).