Lucapa Diamond Company Limited reported that total sales from both its mines – Lulo alluvial mine in Angola and Mothae kimberlite mine in Lesotho – amounted to US$ 35.5 million (A$ 50.2 million) for the year to date on a 100% basis.

The latest sale of 3,558 carats of diamonds from Lulo (Lucapa 40% owner and operator)   had gross proceeds of US$ 4.4 million (A$ 6.3 million) representing an average price per carat of US$ 1,234 (A$ 1,768). “This took total sales of Lulo diamonds to date in 2019 to US$ 26.5 million at an average price per carat of US$ 2,764,” Lucapa stated. “The latest sale did not include the high-value 46 carat Lulo pink diamond, which is being considered for cutting and polishing by the Lulo partners to capture margins from beyond the mine gate.”

Lulo alluvial mining company Sociedade Mineira Do Lulo (SML) plans to hold a second diamond sale in Q3 2019.

A parcel of 4,376 carats of Mothae (Lucapa 70%; Government of the Kingdom of Lesotho 30%) diamonds was sold at the latest sale for gross proceeds of US$ 1.8 million (A$ 2.5 million); which translates to an average price per carat of US$ 400 (A$ 579) for the run of mine production and US$ 475 (A$ 688) per carat for diamonds in the  +11 sieve size fraction1, the Company noted.

“The sale result was impacted by the decision to withhold from sale the highest-valued Mothae diamond in the tender – a 36 carat D-colour stone,” Lucapa stated. “This diamond is also being considered for cutting and polishing to capture margins from beyond the mine gate.”

With the latest sale, Mothae’s sales to date in 2019 amounted to US$ 9.0 million (A$ 12.9 million); at an average price per carat of US$ 539 (A$ 767) and US$ 661 (A$ 941) for the +11 sieve size fraction.

The next sale of Mothae diamonds will take place in late Q3 2019, Lucapa revealed.

Pic Cap: Run of mine production from Lulo

Pic Courtesy: Lucapa Diamond Company Limited