Lucapa Diamond Company and its partners, Angola’s national diamond company Endiama and private group Rosas & Petalas, have enjoyed a fruitful December 2016 Quarter with a substantial increase in diamond production from the Lulo Diamond Project compared to the corresponding quarter in 2015.
“Lulo alluvial mining company Sociedade Mineira Do Lulo (SML) (Lucapa 40% owner and operator) produced 5,313 carats in the Quarter. This was an increase of 147% on the corresponding quarter in 2015 and also the highest quarterly production achieved during the Angolan wet season,” Lucapa told the ASX.
“SML sold two parcels of Lulo diamonds totalling 4,676 carats for total gross proceeds of US$14.6 million (A$19.2 million) during the Quarter, achieving exceptional average prices of U$3,111 per carat.”
According to the company, the December Quarter sales took total gross sales for 2016 to A$69.5 million at an average price per carat of US$2,983 – the highest price per carat achieved for any run of mine diamond production in the world in 2016.
Lucapa Chief Executive Stephen Wetherall said the December Quarter production included 79 specials, up from 28 in the previous corresponding quarter, further underlining Lulo’s ability to regularly produce large premium-value diamonds.
“With Our XRT large diamond recovery circuit now fully operational, we look forward to continued recoveries of large top-tier diamonds and strong cash flows in 2017 as we step up our exciting kimberlite drilling and exploration programs, which will soon involve three drilling rigs,” Mr Wetherall added.
