Australian miner Lucapa and the Govt of the Kingdom of Lesotho have announced the third sale of 2021 of Mothae rough achieved US$1.5m or US$420/ct. All of Mothae’s diamonds are brough to Antwerp where they are prepared for sale and sold in Antwerp. The parcels that form part of Lucapa’s and the Govt of Lesotho’s partnership deal with Safdico are then studied and cut and polished in the city by a preeminent cutting facility.
Lucapa’s quarterly activity report for Q1 shows the company had a strong first three months in 2021. Both operating mines (Lulo and Mothae) noted record performances and the continuing recovery of the entire diamond industry provided a robust pricing environment for rough and polished diamonds.
Lucapa has announced it has recovered another large stone, 144 carat Type IIa D-colour diamond, from Mining Block 08 (MB08). The diamond is the sixth +100 carat diamond recovered in 2021 so far and the 23rd +100 carat stone recovered at Lulo since exploration and mining operations began.
Lucapa announced the recovery of an additional three +100ct and two +50ct diamonds, now totalling six rough diamonds over 100ct discovered in the last three months alone at Mining Block 46 or one +100ct for every 20k cubic meters of gravel. These statistics and recoveries support the potential of the adjacent Canguige catchment and kimberlites close to the Lulo alluvial mine.
Lucapa announced a parcel of selected Mothae stones including a 213ct white diamond and 11ct pink, was prepared, analyzed and sold successfully in Antwerp for US$1,050/ct or a total of US$5.9m to the miner’s purchasing partner. The sale was conducted under the partnership agreement with the Kingdom of Lesotho, maximizing revenue for the country through a share in the final sales outcome of the (selected) stones from the parcel, once they are polished in Antwerp.
Lucapa announces its Mothae expansion project, the re-commissioning of the upgraded processing plant, was completed successfully, expanding processing capacity at the Lesotho kimberlite mine by 45%, to 1.6 million tonnes per annum starting Q2 2021. Lucapa's Mothae production is sold via tender in Antwerp, alongside partnerships with manufacturing companies in accordance with the marketing agreement the company made with the Government of Lesotho, to maximize on the added value generated by the cutting and polishing and final sales of its precious resources.
Lucapa has announced it has recovered another large stone; a 114ct top white diamond, the 19th +100ct recovered at Lulo, and the third 100+ct rough from the MB46 block, close to the Canguige catchment and priority kimberlites. The frequency of the recovery of three large, high quality stones in barely 8 weeks underscores the potential of the Cacuilo valley and Canguige catchment area. Recently the 16km haul road from the Canguige catchment was finished and Lucapa says it will start bulk sampling the priority kimberlites as soon as the wet season is over.
Lucapa reports strong Q4 results at its Lulo operations in Angola (volume of carats mined was up 55%, grades were up 47%, amount of carats sold was down 48% (4,269ct) but prices were up 31% y-o-y.
In a first sale of Mothae goods this year, Lucapa's Mothae operation sold 4,676ct of rough for nearly US$5.6m, with a number of high value "specials" diamonds (10.8ct+), including the 101 D colour rough recovered at the end of 2020. The rough diamonds, achieving a record price of US$1,198/ct were prepared, analysed and sold in Antwerp to partners, in line with the new marketing agreement Lucapa and the Government of Lesotho made last year, to see Mothae benefit from the cutting and polishing of its precious resources.
Lucapa has recovered its 16th 100ct+ rough diamond at its Lulo operation in Angola, the 3rd to date this year, a 127ct gem-quality white, which was recovered from the leziria flood plain in mining block 24. The discovery, the first large stone for this particular block, supports the potential of the Lulo alluvial deposit, Stephen Wetherall, Lucapa's MD added in the release.
Lucapa Diamond Company announced the result of a partnership deal with Safdico, cutting and polishing the 46ct pink rough diamond recovered by the Sociedade Mineira Do Lulo (SML). The exceptional rough stone was studied and polished in Antwerp and cut into a 15.2ct, Fancy Intense Orangy Pink heart-shaped diamond, alongside two pear-shaped diamonds of 3.3ct and 2.3ct diamonds.
In a latest update, Australia based miner Lucapa has adjusted its indicated and inferred diamond resource estimates at the Mothae operation to an estimated 280k ct, 3.1cpht at an average value of US$635/ct and 960k ct, 2.44cpht at an average value of US$601/ct respectively. In the release, Lucapa managing director Stephen Wetherall commented on the 280% increase in indicated resource; " The increase in tonnes and carats, ..., strongly supports an expansion in production at Mothae that the partners are considering"
Australia based Lucapa Diamonds and Endiama have sold 3,862 carats of diamonds from the Lulo operation in Angola for a total amount of US$ 5.6 million or an average US$1,450 per carat at its latest sale. Earlier this month, the company reported on record-breaking recovery of high value rough diamonds vrom the MB06 flood plain, and the latest sale further strenghtens Lucapa's outlook for H2 2020.
Mining Review reports that Lucapa's Lesotho Mothae mine, which had been placed on care and maintenance due to the pandemic at the end of March, will resume activities later this year. In addition, the Lesotho government has approved a proposal that will allow the Australia-based miner to market its rough diamonds through direct partnerships with diamantaires, similar to what Lucapa has implemented for its Lulo (Angola) operation. “Mothae is a unique mine and an important contributor to the Basotho nation.
For the second consecutive month, Lucapa had a record-breaking production at its Angolan Lulo operation, recovering 3852 ct, as mining focused on the MB06 Ieziria flood plain.
At its Annual General Meeting presentation, Lucapa, the Australian company operating two of the world's highest $ per carat diamond mines, Lulo in Angola (alluvial) and Mothae in Lesotho (kimberlite), sized up the effects of the COVID pandemic on the company's operations and performance.
Some good news in these strange and tough times, Australia-based miner Lucapa announced it unearthed an exquisite 171ct white diamond at the Lulo mining operation, the 15th 100+ct stone recovered from the Angolan mine, the 2nd one this year. Lucapa Diamond Company MD Stephen Wetherall says that this latest exceptional find supports the potential of the Canguige exploration programme, that was kicked off earlier this year, in February.
Firestone Diamonds has announced it would shutter its Liqhobong diamond mine in Lesotho likely for "at least" 12 months until the diamond market recovers. The suspension of operations at the mine necessitated by the South African Governmen's directive requiring a 21-day national lockdown in response to the COVID-19 pandemic only added to Firestone's troubles, but the pandemic is starting to take its toll right across southern Africa’s diamond mining sector.
Lucapa Diamond Co. has announced that the Lulo alluvial mining company, Sociedade Mineira Do Lulo (“SML”), is to receive US$4.0 million (A$7.0 million) under a partnership agreement with leading international diamond manufacturer Safdico International. The partnership was forged in an effort to create added value for some of Lucapa's exceptional rough diamonds.
Lucapa Diamond Co. has updated its estimated volume of carats at the Lulo Diamond Resource in Angola, showing a 25% increase to 100,700 carats despite the depletion of ~19,000 carats from alluvial mining during 2019. The average US$ per carat value for Lulo diamonds modelled in the updated Lulo Diamond Resource has also increase 14% to US$1,620 from the previous modelled estimate of US$1,420 per carat. Overall sales of Lulo diamonds to date total ~US$168 million at an average price per carat of ~US$1,900.
Lucapa Diamond Co. announced yesterday (Wednesday March 4) it had received applications for a $2.8 million share placement to advance the Lulo kimberlite exploration program and for general working capital and corporate purposes. Investors looking to get in on the action which will issue 25,899,916 new shares at an issue price of $0.11 per share - representing a discount of approximately 13% to the volume weighted average price - must be a 'to sophisticated and professional investor' by today (March 5).
Lucapa Diamond Co.'s second sale of diamonds in 2020 from the Lulo alluvial diamond mine in Angola achieved an average price of US$1,535 (A$2,324) per carat. The parcel of 1,223 carats of Lulo diamonds achieved gross sales proceeds of US$1.9 million (A$2.84 million). The sale brings to US$5.3 million (A$7.9m) total sales of Lulo diamonds to date in 2020 at an average price of US$1,906 (A$2,842) per carat.
Lucapa Diamond Co. has been undertaking a kimberlite exploration program at its the Lulo diamond project in Angola designed to discover the primary hard-rock sources of the alluvial diamonds being mined along the Cacuilo River valley, which have achieved exceptional average run-of-mine sale prices of ~US$1,900 per carat. This morning they announced positive exploration results, recovering 45 diamonds of up to 3.75 carats recovered from stream bulk sampling. Preliminary analysis has classified several diamonds as top D-color.
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).
Safdico International (South African Diamond Corp.), a subsidiary of Graff Diamonds and a leading diamond manufacturing and trading company has signed a deal with Australian miner Lucapa whereby it may purchase up to 60% of the annual rough production from the Lulo alluvial mine in Angola.
Lucapa Diamond Co. has delivered an exceptional result from its first foray into a cutting & polishing partnership, marking a milestone for Lucapa’s move along the diamond value chain. value chain. The first stone they selected was a 36.20-carat rough diamond from the Mothae kimberlite mine in Lesotho, which was polished in Antwerp in partnership with a leading international diamantaire, yielding six D-color diamonds. The two largest of the polished diamonds were both graded as D Flawless by the Gemological Institute of America (GIA).
Australia-based mining company Lucapa Diamond Co. has rung in the new year with a bang, recovering a gem-quality 117 carat stone from the Lulo alluvial mine in Angola. The stone is the 14th diamond larger than 100 carats recovered to date from Lulo by Lucapa and its partners and the first for 2020.
Lucapa Diamond Company today announced that in 2019 the miner smashed its previous annual high in group production, recovering 49,120 carats compared to 19,196 carats last year.
Lucapa Diamond Company earned US$6.4 million (A$9.3 million) at the latest sale of diamonds from the Lulo alluvial mine in Angola and the Mothae kimberlite mine in Lesotho. This sales brings Lucapa's total 2019 sales of Lulo and Mothae diamonds to US$55.0 million (A$79.0 million), more than doubling their entire earnings of US$26.4 million a year ago.
Lucapa Diamond Co. has exported a 46 carat Lulo pink diamond to Antwerp and it is currently undergoing studies for polishing (initial possible polished solutions pictured above). A decision on the optimal polished solutions will be taken by the Sociedade Mineira do Lulo (SML) and the Lulo partners once the studies are concluded. While Antwerp is not the manufacturing center it once was, many of the world's most valuable and complex rough diamonds still find their way to Antwerp for analysis and polishing.
Lucapa's latest sales of rough diamonds from its Lulo (Angola) and Mothae (Lesotho) mines totalled $US10.4 million ($A15.5m), taking combined sales to date for 2019 to $US45.9m ($A65.7m).
Lucapa Diamond Co. and its respective partners have reported record production for the September 2019 Quarter (July - Sept.) as its their high-value Lulo alluvial mine in Angola and the Mothae kimberlite mine in Lesotho achieved combined production of 14,610 carats. The company says its results are "in line with Lucapa’s strategy of expanding high-value diamond production to maximise revenue generation."
Lucapa Diamond Company, which operates high-value mines in Lesotho (Mothae) and Angola (Lulo), saw its first half 2019 net profit after tax jump to US$1.1 million compared with a US$4.3m loss during the same period last year as an increase in production led to higher sales, complemented by a massive jump in the average price per carat sold. Their combined rough sales rose by 85% to US$29.4 million from US$15.9 million a year ago.
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.