Thoughts for the coming week?, page-133

Lots of news still going around

ON A ROLL: LUPACA CONFIRMS KIMBERLITE AT LULO IN ANGOLA

http://www.israelidiamond.co.il/english/news.aspx?boneid=918&objid=16351


In a statement published on its website, Lucapa Diamond Companyhas announced that it has identified confirmed kimberlite (L259) next to a world-class diamond field at Lulo in Angola.

According to Lucapa, Kimberlite L259 "could be a primary source of the large alluvial diamonds being mined at Mining Block 8, which include rare D-colour Type IIa gems and fancy colours”.

Lupaca has also confirmed "a significant expansion of the alluvial gravels at Mining Block 8, which has been a prolific source of large special diamonds (> 10.8 carats) and fancy colours and will remain the focus of future alluvial mining production operations at Lulo".

Earlier this week, it was reported that shares in Lucapa have risen significantly in the last month, tripling from a low of 15 cents each to a high of 55 cents. The reason: Lupaca keeps finding more and more rough diamonds at its Lulo mine in Angola. Five parcels have been sold so far, fetching $10.7 million with an average price of $1,667 per carat, a big premium to the world average of $120.