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LUCARA’S LATEST EXCEPTIONAL STONE TENDER: $54.8M GROSS REVENUE
16 May 2017
Diamond mining company Lucara Diamond Corp. (Lucara ) reports gross revenue of US$54.8 million from its first 2017 Exceptional Stone Tender of diamonds from its 100-percent owned Karowe mine in Botswana.

The tender consisted of 15 single stone lots, ranging from 373.72 carats to 29.90 carats in size, with a total of 1765.72 carats. The average per carat achieved was US$31,010.

Among the diamonds sold was a 373.72 carat Type IIa diamond, which reportedly sold for US$17.54 million (US$46,935 per carat), and a 182.47 carat stone which sold for US$6.3 million.

Commenting on the results of the Exceptional Stone Tender, which was the 11th such tender held since mining began Karowe in 2012, Lucara President and CEO William Lamb, says, "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 (+10.8 carat specials)."

Continues 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, the Company has sold 145 diamonds for more than US $1 Million each, bringing in revenues of greater than US$528 Million. These strong cashflows support the Company's dividend policy and growth strategy."
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