03/03/2016 - 14:22

Lucapa sells more diamonds

03/03/2016 - 14:22

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Lucapa Diamond Company has netted another $9.6 million from the sale of 1,349 carats worth of diamonds recovered from its Lulo mine in Angola.

Lucapa Diamond Company has netted another $9.6 million from the sale of 1,349 carats worth of diamonds  recovered from its Lulo mine in Angola.

The diamond sale adds to $22.5 million in proceeds from the sale of a 404-carat diamond by Lucapa earlier this week.

“The latest sale achieved an exceptional average selling price of $7,126 per carat, providing further evidence of the strong market demand for large, high-quality diamonds like those being recovered from Lulo,” Lucapa said in a statement.

Lucapa and its partners Endiama and Rosas & Petalas have sold $51.3 million worth of diamonds from Lulo to-date.

Lucapa chief executive Stephen Wetherall said the recent diamond sales demonstrated the ability of the Lulo alluvial mining operations to generate strong cash flows.

“The sale prices achieved in the March quarter continue to highlight the diamonds we are mining at Lulo are, on average, among the best quality gems in the world,” Mr Wetherall said.

Lucapa closed 3.6 per cent higher to 42.5 cents each.

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