Lucapa Diamonds Company and its partners have announced the results of the latest sale of alluvial diamonds from the Lulo Diamond Project in Angola.
Image credit: Lucapa Diamond Company ASX release
“The parcel of 1,862 carats of Lulo diamonds sold for gross proceeds of A$2.9 million, representing an average sale price of A$1.580 per carat,” Lucapa told the ASX on Wednesday.
“Further large specials (diamond weighing more than 10.8 carats) recovered from trial mining at the E46 alluvial terraces since this latest sale parcel include individual diamonds weighing 60 carats, 35 carats and 21 carats.”
Lucapa also announced that the end of the Angolan wet season allowed the company and its partners to resume alluvial diamond mining operations at Mining Block 6 at Lulo, where initial special recoveries have included 13 carat fancy yellow – one of the largest fancy-coloured gems recovered to date at Lulo.
Lucapa said that mining operations were also expected to resume at Mining Block 8 during the June 2016 quarter, where de-watering and mine preparations continue.
“Mining Blocks 6 and 8 have been regular sources of large valuable diamonds, producing four + 100 carat stones to date including the record 404 carat Type IIa D-colour gem which sold for A$22.5 million in February 2016,” reads the statement.
Lucapa and its partners, Angola’s national diamond mining company and private local company Rosas & Pétalas, also announced new appointments to the Lulo management team.
Experienced geologist Richard Barnes has been appointed as the Lulo Mine General Manager, while seasoned finance and risk management executive Johan van Wyk has been named new Financial Manager of the project.
