Diamonds
TSX-listed Lucara Diamond Corp has achieved gross revenues of $54.8 million from its first exceptional stone tender (EST) of 2017 at Karowe.

Lucara has held 11 ESTs since mining began in 2012.

The tender consisted of 15 single stone lots, ranging from 373.72 carats to 29.90 carats in size, totalling 1765.72 carats and (US$31,010 per carat).

In summary the auction featured seven diamonds selling for more than $2.0 million each. A 373.72 carat type IIa diamond sold for $17.54 million and another three diamonds sold for more than $4.0 million including a 182.47 carat stone which sold for $6.3 million. The average value of diamonds sold year-to-date exceeds $1221 per carat.

“Now in its fifth year of production, Karowe continues to deliver strong, consistent, results from its regular and exceptional tenders, demonstrating the robust nature of the orebody and the predictable contribution from large, high value diamonds,” comments Lucara Diamond Corp’s president and CEO, William Lamb.

“This tender achieved a price in excess of US$31 000 per carat, further evidencing the continued, strong demand for our diamonds in the marketplace.”

“To date, Lucara has sold 145 diamonds for more than $1 million each, bringing in revenues of greater than $528 million. These strong cashflows support the company’s dividend policy and growth strategy,” maintains Lamb.

Feature image credit: Lucara Diamond Corp

(The 1 111 carat Lesedi la Rona diamond was recovered from the Karowe mine in November 2015)