Lucapa Diamond Company Limited released a report of its activities for the second quarter of 2019, reporting recovery of 10,217 carats and total sales of US$ 13.5 million from its Lulo and Mothae mines. The results take total recovery for H1 2019 to 20,504 carats and total sales to US$ 29.4 million, the Company said.

Having delivered on key operational goals at both its high-value Lulo and Mothae diamond mines during the quarter, Lucapa said it is now on track to report an operating profit in 2019.

Building on these results in H2 2019 is now possible, as mining at Mothae transitions to the higher-margin diamond zones in the southern pit and production is scaled up at Lulo following the arrival on site of an extensive new fleet of earthmoving equipment, Lucapa reported.

Already diamond carat production and grades at the Mothae mine in Lesotho have been ~20% ahead of plan and the Company recently recovered the largest gem-quality diamond - 126 carats. Also cash operating costs are 14% better than plan and dewatering of the southern pit is underway to provide access to higher-margin diamond zones in early Q3 2019.

Similarly, at the Lulo alluvial mine and kimberlite project in Angola the company achieved an exceptional average price of US$ 3,668/carat and also recovered its 13th +100 carat diamond – 130 carats. Further, cash operating costs are in line with plan and launch of the next kimberlite exploration phase following extensive technical review is scheduled to begin soon. Another value-adding strategy has been the sale of the first diamonds into a cutting & polishing agreement, Lucapa said.

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