- Lucapa Diamond Company (LOM) recovers a 150-carat Type IIA white diamond from the Lulo alluvial mine in Angola
- It marks the company’s fifth diamond of over 100 carats from Lulo Mining Block 28 and the 36th +100-carat diamond recovered at Lulo
- The recovery was made in collaboration with its Lulo partners, Endiama and Rosas & Petalas
- Additionally, Lucapa has received a US$1.4 million (A$2.1 million) dividend from Sociedade Mineira Do Lulo (SML)
- LOM shares are trading at 4 cents at 1:13 pm AEDT
Lucapa Diamond Company (LOM) has recovered a 150-carat Type IIA white diamond from Lulo Mining Block 28 at the Lulo alluvial mine in Angola.
It marks the fifth diamond of over 100 carats from the block and the 36th +100-carat diamond recovered at Lulo
The recovery was made in collaboration with Lucapa’s Lulo partners, Endiama and Rosas & Petalas.
Lucapa also announced it received a US$1.4 million (A$2.1 million) dividend approved by the shareholders of Sociedade Mineira Do Lulo (SML) at a 2022 General Assembly.
The company holds a 40 per cent interest in the Lulo alluvial mine, which has been in commercial production since 2015.
Lucapa also holds a 70 per cent interest in the Mothae mine in Angola, which has been in commercial production since 2019.
The company said the large, high-value diamonds produced from both of the African mines attracted some of the highest prices per carat for rough diamonds across the globe.
As part of its growth strategy, Lucapa recently agreed to acquire 100 per cent of the historic Merlin diamond project in the Northern Territory in Australia. It contains a 4.4-million-carat JORC resource.
The company aims to carry out its development studies and bring Merlin production to fruition within two years.
LOM shares were trading at 4 cents at 1:13 pm AEDT.