Lucapa Diamond Company Limited (ASX: LOM) – $0.420

29 Feb 2016

Lucapa Diamond Company Limited (ASX: LOM) has sold the 404 carat diamond recently recovered from the Lulo Diamond Project in Angola (Figure 1) for A$22.5 million.

 

LOM Lulo Diamond

Figure 1.  404 carat white diamond from Lulo Diamond Project

 

 

The sale represents an average price of A$55,585 per carat, which is a record price for a white diamond recovered from Lulo.

 

The company is the operator of the Lulo Diamond Project and has a 40% interest in the alluvial diamond mining operations. Endiama E.P, Angola’s national diamond mining company has a 32% interest in the project and private local partner Rosas & Pétalas has 28% interest.

 

Alluvial mining operations commenced at Lulo in 2015. The project is located within 150km of the Alrosa operated Catoca, which is one of the world’s largest diamond mines and accounts for approximately 75% of Angola’s annual diamond production.

 

 

For further information, visit www.lucapa.com.au

 

 

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