Lucapa Diamond Company Ltd and its partners announced today that it had earned revenue of US$ 6.4 million from its latest sale of diamonds from the Lulo alluvial mine in Angola and the Mothae kimberlite mine in Lesotho.

This takes the total 2019 sales of Lulo and Mothae diamonds to US$55.0 million on a 100% basis.

The Company said that a total of 3,274 carats of Lulo diamonds sold for gross proceeds of US$ 3.4 million, representing an average price per carat of US$ 1,037. With this the total 2019 sales of Lulo diamonds has reached US$ 38.5 million at an average price per carat of US$ 1,918.

Since the latest sale, the recent recoveries include an 84 carat gem, which will be included in the next sale parcel.

A total of 6,617 carats of Mothae diamonds sold at tender for gross proceeds of US$ 3.0 million, representing an average price per carat of US$ 455, bringing  total 2019 sales of Mothae diamonds to US$ 16.5 million at an average price per carat of US$ 575.

Lucapa said that the 220 carat Mothae diamond recovered in November was withheld from the sale and is being considered for cutting & polishing, along with the 46 carat Lulo pink recovered earlier.

The increased level of buyer interest noted by Lucapa in the latest Mothae tender is consistent with recent positive commentary from other global diamond producers, indicating a general improvement in industry sentiment after a challenging period in 2019.

Pic caption: The 84 carat Lulo gem to be included in next sale parcel