The mining company Lucapa Diamond Company Limited has completed the sixth sale alluvial diamonds from the diamond project in Angola Lulo. By selling the Lulo diamond with a total weight of 1,621 carats gross revenue of approximately AUD 5.1 million was achieved, which corresponds to an average sales price of exceptional 3,132 AUD per carat. This has been achieved against the background of unfavorable conditions on the international diamond market. The sale increased the total revenue that has been generated to date from the sale of six packages with Lulo diamond with a total of 8,037 carats, at 15.8 million AUD (12.9 million USD in USD sales invoiced). This represents a total average price 1,966 AUD / carat (1600 USD / carat in USD sales invoiced). The diamonds of recent sales package were found primarily during the dismantling work on the alluvial diamond field in the Mining Block 8 to 26 September 2015 where Lucapa and Lulo partners continue to explore regularly big special diamonds (weight of over 10.8 carats) , Lucapas Chief Executive Officer, Stephen Wetherall said that the recent diamond sales support the unique nature of the Lulo diamond and particularly the potential of the extended Alluvialfeldes on mining block 8 and the adjoining Kimberlitprogramm. "The first-class average prices that we obtain for our diamonds, significantly improve the value and planned returns of each cubic meter of alluvial gravel, which we break down on Lulo," said Wetherall. "We continue to see great special diamonds on mining block 8 and expect in 2015 a diamond sale or possibly perform two more diamond sales."
LOM Price at posting:
43.5¢ Sentiment: Buy Disclosure: Held
