Lucapa Diamond’s production up 147% in Q4

Lucapa Diamond Company announced performance of its diamond production during the fourth quarter and year of 2016, as per reports. The diamond production rose 147 percent to 5,313 carats in the last quarter of the year with a 88 percent rise in the diamond grade, as per reports.

In 2016, the company achieved a production of 19,833 carats from 8,394 in the previous year, recording a 136% percent increase on y-o-y basis, as per reports. Sales stood at $51 million in 2016 or 440 percent up, at an average price per carat of $2,983. The price was the highest price per carat achieved for run of mine diamond production in the world for 2016.

In the last quarter the average diamond size recovery was up 46 percent to 1.9 carats per stone from 1.3 carats per stone in the last quarter of 2015. There were a total of 79 special stones recovered from 28 in the corresponding last quarter of 2015.

the company’s unsold diamond inventory at the end of 2016 was at 2,921 carats and cash balance of $14.1 million, as per reports.