Lucapa recovers 227 carat diamond
Just when the Lucapa share price had fallen to its long
term support line and was looking friendless, it has pulled a
rabbit out of the hat; a 227 carats premium quality Type IIa
D-colour gem diamond. Significantly, this was from a new
location - Block 28 - not the one where the 404 carat
diamond was found last year.
This further underpins our view that this is the most
productive, most profitable alluvial diamond mine in the
world today. Without saying exactly how much Lucapa will
get for this stone, the Company has said that it will receive
more than the cost of the XRT large-diamond recovery
circuit installed in the December quarter of 2016. That
means somewhere between in the range of US$5-10m.
We look forward to the Company announcing a maiden profit.
http://www.fareastcapital.com.au/imagesDB/newsletter/WeeklyComm18February2017.pdf
