Diamonds
With the close of the fourth regular tender of 2016, Lucara Diamond Corp has exceeded $1 billion in sales since the start of production in June 2012.

Lucara Diamond Corp’s revenue for fourth quarter 2016, including the second exceptional stone tender held in November this year, is $6.6 million at an average of $743 per carat.

Total revenue for the year end, including the constellation diamond sale, is estimated to be $295 million at an average of $823 per carat.

Revenue excluding the sale of the constellation diamond is estimated at $232 million at an average of $649 per carat.

Lucara Diamond Corp sold 14 exceptional stones at over $2 million per stone, including four stones at over $10 million per stone. In addition, Lucara Diamond Corp sold 20 exceptional stones between $1 to $2 million per stone.

The company’s Karowe mine, to date, has yielded 1.8 million carats generating revenue of $1.02 billion at an average price of $566 per carat. The mine also surpassed the 5 million Lost Time Injury Free mark in November.

William Lamb, president and CEO commented: “Achieving sales of $1 billion is a significant milestone for Lucara Diamond Corp and is a recognition of our strong client base and the quality of diamonds recovered from the Karowe mine.

“Such a milestone could only have been achieved with the dedication of our employees, who have demonstrated a great commitment to working safely on site as exemplified by the Karowe mine surpassing 5,000,000 Lost Time Injury Free hours. We are pleased that our final sale of the year has shown strong demand for our larger higher quality diamonds and also a sustainable demand for the smaller size diamonds.

“We look forward to continued success in 2017 with the advancement of our exploration and deep drilling programs and the completion of our capital programs to enhance diamond recovery from the high value south lobe.”