Lucapa Diamond Company Limited reported a production of 5,313 cts for Q4 2016 as against a production of 2,151 cts achieved in Q4 2015, registering a growth of 147%. For FY 2016, total production stood at 19,833 compared to 8,394 cts recovered in FY 2015; up by 135%.

The Company said that this was “the highest quarterly production achieved during the Angolan wet season”.

The Lulo alluvial mining company, Sociedade Mineira Du Lolo (SML) –  Lucapa being  40% owner and operator – sold a total of 4,676 cts of diamonds in  two parcels  for gross revenues of US$ 14.6 million in the quarter, achieving an “exceptional” average price  of US$ 3, 111 per ct,  Lucapa  said. 

Together with Q4 2016 revenue, total sales for calendar year 2016 reached US$ 51 million;  with an average price of US$ 2,983 per ct.

Lucapa declared that SML’s inventory   at the end of the  year amounted to 2938 cts. These diamonds are slated to be sold in the next sale in January 2017.

This quarter was also remarkable in that 79 special stones (those weighing more than 10.8 cts) were recovered in the period as against 28 such stones recovered in the same period of the previous year. Included in the special stones is one 54 ct gem and four diamonds of over 70 cts.

Referring to the sales  figures achieved,  Stephen Wetherall, Lucapa’s Chief Executive said: “As a result, SML   ended the year with a significant cash balance and a large unsold inventory  of about 3,000 cts.”