Following the discovery of a 64-carat rough that the company considers the highest-quality diamond from the Mothae Mine to date, Lucapa Diamond Company has announced earnings of $6.2 million (AUS$8.8 million) from the latest sales of diamonds from the Lulo alluvial mine in Angola and the Mothae kimberlite mine in Lesotho. The latest sales from Lulo and Mothae take total sales from both mines to US$35.5 million (A$50.2 million) for the year to date.
Lucapa Diamond Company is expecting to start turning an operational profit this year after achieving exceptional prices for its rough diamonds at its H1 tenders in Antwerp. The miner says it has also delivered on key operational goals at its Lulo (Angola) and Mothae (Lesotho) diamond mines in the June 2019 Quarter as well as in the first half of 2019. In H1 2019, the company recovered 20,504 carats and banked $US29.4m (AUS$41.9m) from sales.
Lucapa Diamond Co. yesterday formally annouced the launch of the next exploration phase to locate the kimberlite source of the high-value alluvial diamonds at the Lulo project in Angola. The next 12-month program is based on an extensive technical review of Lulo kimberlite exploration results to date, including those of the extensive 2018 drilling program which confirmed a further 70 kimberlites within the Lulo alluvial diamond field, which increased the total known kimberlites within the concession to more than 100.
Lucapa Diamond Co.'s latest sale of diamonds from the Lulo alluvial mine in Angola achieved gross revenues of US$10.0 million (A$14.5 million) from run of mine parcels totalling 5,573 carats, representing an average price of US$1,800 per carat. This took total sales of Lulo diamonds to date in H1 2019 to US$22.1 million achieving an average price per carat of US$3,668, "further underling Lulo’s status as the world’s highest average price alluvial diamond production," the miner writes.
ASX-listed Lucapa Diamond Company held the second tender in 2019 of diamonds from the new Mothae kimberlite mine in Lesotho, selling a parcel of 7,008 carats of rough diamonds sold at Bonas tender house in Antwerp for a total of US$3.5 million (A$5 million). The tender included prices of up to US$26,000 per carat paid for individual Mothae gems.
Lucapa Diamond Company has recovered of a gem-quality, 126-carat diamond from the new Mothae kimberlite mine in Lesotho. The 126-carat stone is the largest diamond recovered since commercial mining operations commenced in January 2019 and the largest gem-quality diamond ever recovered from Mothae.
Lucapa Diamond Co. has recovered a 130 carat gem-quality diamond from its Lulo Diamond Project in Angola. The 130-carat diamond is the 13th diamond larger than 100 carats the miner has recovered to date and the second recovered so far in 2019 from the mine that produces the highest average US$ per carat alluvial diamond production in the world. Lucapa continues to recover large Special (+10.8 ct) white and fancy colored diamonds at the Lulo diamond concession.
Lucapa Diamond Co. has reported an "excpetional performance" from the Mothae kimberlite mine in Lesotho in its first full quarter of production, while output from the Lulo alluvial mine in Angola fell as the miner focused predominantly on lower grade mining areas. The miner held two milestone tenders during Q1 2019: its first ever sale of Lulo diamonds via international tender under the new diamond marketing reforms enacted by the Angolan President, Joao Lourenco, and its first commercial run of mine tender from Mothae via Bonas tender house in Antwerp.
Lucapa Diamond Company last week has agreed on funding and refinancing arrangements which will improve its financial position and reduce its financing costs, the company said in an ASX announcement. The move will enable Lucapa to reduce the higher-cost debt used to fund the development of the new high-value Mothae diamond mine in Lesotho.
Lucapa Diamond Co. reports that its inferred diamond resource estimate of in-situ carats at its 40%-owned Lulo diamond mine in Angola has nearly doubled since it was last analyzed in May 2017, increasing 90% to 80,400 carats. The modelled average price per carat also rose to $1,420, a 17% increase over the previous modelled estimate of $1,215 per carat. Overall sales of Lulo diamonds to date total ~US$141 million at an average price per carat of ~US$2,100.
Australian diamond miner Lucapa has reached two milestones in the space of a month: first, the inaugural international tender of Angolan diamonds offered for sale via a competitive tender under the new diamond marketing policy enacted by the Angolan President, Joao Lourenco, and the maiden tender of goods from the Mothae mine in Lesotho held at Bonas t
Australian junior miner Lucapa Diamond Co. held the first sale of diamonds at the Bonas tender house in Antwerp from the new 1.1Mtpa Mothae kimberlite plant in Lesotho, marking the mine's arrival on the international market. The parcel of 5,411 carats of rough diamonds recovered during the plant ramp-up phase in Q4 2018 and in the first month of commercial mining operations at Mothae in January 2019 sold at tender in Antwerp for a total of US$3.8 million.
A delegation of ministers and miners from the mountain Kingdom of Lesotho visited the Antwerp World Diamond Centre (AWDC) and its Diamond Office today for the final days of the first run-of-mine tender of diamonds from Lucapa's Mothae mine, held at Bonas tender house. About 5,000 carats will be up for grabs in Antwerp and is said to include specials from Mothae, featuring high color whites weighing 78 carats and 38 carats as well as an 89-carat yellow. We will provide additional information from the sale when available.
Exceptionally large diamond recoveries are, as a rule, an exception, but today we had two announcements of some very impressive stones: Lucara Diamond unveiled 223-carat stone from its Karowe mine in Botswana, while Lucapa Diamond Co. added a 128-carat find from its Lulo diamond field in Angola.
Angolan president Joao Lourenço came into power about 18 months ago, stating his intention to fully reform the country's diamond industry, and his progress has been undeniable. Starting with untangling the country from the business interests of his predecessor’s family - president Jose Eduardo dos Santos and his daughter Isabel dos Santos - he set out to increase transparency and promote the country ́s image abroad in order to facilitate the exportation of goods and services and attract direct foreign investment. Lucapa Diamond Co.
The state of the diamond mining industry as 2019 enters full swing is concerning to many throughout the trade. The fall in prices of small, lower-quality diamonds, a staple of many miners, had participants at the Africa Mining Indaba last week concerned about the sustainability of their operations if the market does not correct this year, with some even concerned about their survival.
Lucapa Diamond Co. sold seven large, top-quality diamonds weighing 498 carats at the inaugural competitive tender under Angola’s new diamond marketing policy, earning US$16.7 million, representing an average price of US$33,530 per carat. The exceptional stones from the Lulo alluvial mine in Angola were offered for sale via electronic tender organised by Sodiam (Angolan state diamond marketing company) in Luanda.
Lucapa Diamond Company has commenced commercial diamond recoveries at its new 1.1Mtpa (million tons per annum) Mothae mine, a "high-quality kimberlite resource" located in Lesotho. Lucapa has been developing a new mine at Mothae throughout 2018 to complement production from the high-value Lulo mine in Angola. During Q4 2018, Lucapa completed construction of Mothae's new treatment plant, which incorporates two XRT diamond recovery circuits, and commenced the commissioning phase.
Mining company Lucapa Diamonds and its partners on the Lulo project in Angola have announced that their diamonds will feature in an historic inaugural international tender in the country. The tender is part of the new Angolan diamond marketing laws recently been approved by President Joao Lourenco and the Council of Ministers. According to Lucapa, the policy shifts in Angola allow management to plan for the sale of such high-value stones, something the company was not able to do before because previous rules forced producers to sell their gems to middlemen below international prices.
Australian miner Lucapa Diamonds earned $4.2 million from its latest tender of rough goods from its Lulo alluvial mine in Angola, as it continues to hold back high-value goods until it can take advantage of Angola's new marketing policy. The sale involved 3,411 carats and earned an average price of $1,220 per carat, and brings the miner's total sales of Lulo diamonds for the year to $24.5 million at an average price per carat which now stands at $1,353, a figure which has declined from an average price per carat of $1,642 as of the half-way point of 2018.
Lucapa Diamond Company, which only two weeks ago commenced its commissioning of the 1.1Mtpa (million ton per annum) treatment plant at the high-quality Mothae kimberlite open-pit diamond mine in Lesotho, will be holding its first ever tender of Mothae diamonds in Antwerp, starting November 12. The Mothae treatment plant, which incorporates two XRT diamond recovery circuits, will be ramped up to its nameplate capacity throughout the December quarter.
During initial tests of new flood plains being explored near the Lulo diamond project in Angola, Lucapa Diamond Company has discovered of a new alluvial source of large and premium-value diamonds. Lucapa reports a total of 1,502 carats recovered so far from 11,155 bulk cubic metres processed, achieving a diamond grade of 13.5 carats per 100 cubic metres. The sample included 17 specials (+10.8 carats), including an exceptional 55 carat Type IIa D-colour white The average size of the diamond recovered was 1.4 carats.
All signs are pointing upward for Lucapa Diamond Co. these days, with the exception of their rough diamond sales in Q3, which fell by 49% as the miner withheld several exceptional, large and premium-value specials (+10.8 ct.) for sale at a later date. This parcel (pictured) includes a 46-carat pink, and top-color Type IIa white diamonds weighing 114, 85, 75, 70, 62, and 43 carats respectively.
Lucapa Diamond Company has commenced its commissioning of the 1.1Mtpa (million tonne per annum) treatment plant at the high-quality Mothae kimberlite open-pit diamond mine in Lesotho (Lucapa 70%; Gov't of Lesotho 30%), despite the challenges of the winter snowfalls in the Maluti Mountains (altitude > 3,000 metres).
CEO of Australia’s Lucapa Diamond Company, Stephen Wetherall, paid a visit to Antwerp recently, where The Diamond Loupe caught up with him. We encountered an optimistic CEO that is clearly excited about the future of Lucapa, and justifiably so. The growing miner operates, together with its partners in Angola, the highest-value and most promising alluvial diamond project in the world - the Lulo Diamond Project.
Lucapa Diamond Company Ltd., a growing diamond company with a portfolio of high-quality production, development and exploration assets in Angola, Lesotho, Australia and Botswana, has been awarded a new Mineral Investment Contract (MIC) by the Angolan Ministry of Mineral Resources and Petroleum for the Lulo kimberlite exploration licence. The MIC covers a five-year period through to 30 April 2023. Lucapa Managing Director Stephen Wetherall said the gazetting of the new five-year MIC for the Lulo kimberlite licence was further evidence of Angola’s diamond sector reforms and the strong working
Lucapa Diamond Company today announced that a selection of large, premium-value Lulo diamonds will be the first Lulo production sold through new marketing channels being introduced as part of Angola’s diamond sector reforms, which represent a milestone for Angola's rough diamond trade. Additionally, Lucapa has exported its first parcel of ~2,500 carats of diamonds recovered from the Mothae kimberlite diamond mine in Lesotho to the global diamond trading centre of Antwerp, Belgium.
Australian-based Lucapa Diamond Company, whose flagship operation is the Lulo diamond project in Angola, reports the recovery 1,100 diamonds from a 178 kg drill sample at the Brooking diamond project in Western Australia’s West Kimberley lamproite province. The miner's "exceptional results" from the Little Spring Creek discovery included 18 macro-diamonds and 1,082 micro-diamonds, recovered from drill hole LSC/DH002. “The latest micro-diamond results from Little Spring Creek are some of the best I have seen in the diamond space," said Lucapa Managing Director Stephen Wetherall.
Lucapa Diamond Company completed the first sale of alluvial diamonds for H2 2018 from the Lulo Diamond Project in Angola: the parcel of 2,527 carats achieved gross sale proceeds of US$2.0 million (A$2.7 million), representing an average price per carat of US$800 (A$1,079), as several large stones were excluded from the sale.
Lucapa Diamond Co. has announced the recovery of a 114 carat diamond from the alluvial Lulo Diamond Project in Angola, the 11th +100 carat diamond recovered to date from the prolific Lulo diamond field and the third so far in 2018. The 114 carat diamond adds to a significant inventory of large diamonds currently held for a later sale by Lulo mining company Sociedade Mineira Do Lulo.
Australian-listed Lucapa Diamond Company Limited recovered an 89.75-carat yellow diamond from the Mothae Diamond Project in Lesotho. The diamond was recovered from the current bulk sampling program at Mothae as construction of the new 150 ton-per-hour commercial diamond plant continues on schedule for H2 2018 commissioning, the company said.
Australian diamond miner Lucapa Diamond Corp. earned US$2 million (A$2.7 million) in revenues from its latest sale of rough diamonds from the Lulo Diamond Project in Angola. Lucapa sold 1,782 carats at an average price per carat of US$1,150 (A$1,530). Including this sale, the miner's gross proceeds from Lulo diamond sales to date in H1 2018 now sits at US$15.9 million (A$20.2 million) at an average price per carat of US$1,642 (A$2,093). The sale excluded a number of large white specials (+10.8 carats) and a coloured special, which were held back for a future sale.
The fact of the matter is, if you are not selling a diamond at international commercial tender in Antwerp, you are not achieving the best price. We’re achieving the best prices in the world for an alluvial diamond mine, so it’s not a bad start. But could you get more for your diamonds at international tender? The answer would be yes.
- Mark Drummond, Head of Investor Relations at Lucapa Diamonds, on Angola opening up diamond sales
Lucapa Diamond has recovered 25 carat yellow gem diamond from the Mothae kimberlite mine in Lesotho during first two days of trial processing following bulk sampling plant modifications, causing them to rethink their expectations for the mine. "Significantly", they note, "the gem-quality Special was recovered from the Neck Zone of the Mothae kimberlite" which is not part of the current +1 million carat resource estimate. They also recovered a 6 carat diamond during the first two days of trial processing of material from the Neck Zone.
Lucapa Diamond Company has recovered a gem-quality 46 carat pink diamond from the Lulo Diamond Project in Angola, the largest gem-quality coloured diamond recovered to date from the Lulo mining operations. The 46 carat pink eclipsed the 43 carat yellow gem recovered in January 2018 and the 39 carat pink recovered in September 2016.
The Lucapa Diamond Company has announced it has secured major investment backing from a new cornerstone investor and existing shareholders to advance its diamond projects and continue delivering on its growth strategy. The US$12.7 million (A$16.5 million) placement, at no discount to market price, will enable Lucapa to immediately launch an extensive follow-up exploration program, including further drilling, at the Brooking diamond discovery in Western Australia’s West Kimberley region, the company states.
Australia's Lucapa Diamond Co., with assets in Angola, Lesotho, Australia and Botswana, has announced in its Annual Report for the year ended 31 December 2017 that diamond sales fell 38% to $31.6 million last year compared with $51 million a year earlier, though the 2016 figures are skewed by the $16 million sale of Angola's largest ever rough diamond, the 404-carat 4th February Stone.
Lucapa Diamond Company (partners Endiama and Rosas & Petalas) completed the second sale for 2018 of diamonds from the Lulo Diamond Project in Angola. The sale of 2,072 carats of Lulo diamonds achieved gross proceeds of US$1.7 million (A$2.1 million), representing an average price per carat of US$804. The largest diamond weighed 44 carats in the sale parcel, which also included a vivid pink of 1.9 carats. The latest sale brought gross proceeds from Lulo diamonds sales to date in 2018 to US$10.8 million (A$13.5 million) at an average price per carat of US$1,731.
Australian junior miner Lucapa Diamond Company has recovered the first diamonds from its 70% owned Mothae kimberlite mine in Lesotho, the company reports in an ASX announcement. The diamonds were recovered through the existing bulk sampling plant and infrastructure at Mothae, which has been refurbished ahead of schedule, as part of the previously announced bulk sampling program (BSP).
Australia's Lucapa Diamond Company has announced their Q4 and final 2017 results, with fewer large diamond recoveries and lower prices achieved leading to a 38% decline in annual sales. The company earned $31.6 million in revenue from diamond recovered at their Lulo Diamond Project in Angola, compared to $51 million a year ago. Last year's figures include the 404 carat "4th February Stone", which sold for US$16m in February 2016. Even without the earnings from that big diamond, however, sales would still have been 10% lower than the $35 million earned in 2016 excluding the big stone.