Ann: Quarterly Activities Report, page-33

Overall a good report considering the alluvial results were from the expected lower grade areas closer to the plant and not from the elevated L46 alluvial areas.
The average diamond value of over $1200.00 a carat is good for the batch that was valued being that there was no high value larger diamonds in the batch with only a few fancy types.
The rest of the diamonds on hand not valued yet appear to maybe be worth a little more.
Lucapa appears to be just sampling the lower grade areas to see what is there while waiting on the mining licence and current grades are on par with other samples across these areas to date.
Lucapa is targeting a average grade of 10 carats per 100 cubic meters across the entire alluvial field in the mining licence application,so looking good so far when you include the previous higher grade areas and potential grades of the elevated L46 alluvial areas up river.
IM still confident of 20 carats plus grades per 100 cubic meters over many up river samples once mining commences with my expectations of at least a average of 15 carats per 100 cubic meters over the entire alluvial field.
A plant treating 150 tons a hour over 14 hours a day at about 5 carats per 100 cubic meters with a value of $1200.00 a carat would generate about $70,000.00 a day,and this is a low ball figure based on the samples from the quarterly.
Even the lower grade areas will be very profitable imo
Early days put a good result for the locations tested imo.