20 Jan 2020
DiamondWorld Directory
Home |
News
Home
Lucapa clocks revenues worth $2.3 million from sale of diamonds from Lulo
This is the fourth diamond parcel from Lulo
By: Diamond World News Service
|
May 21 2015 9:32AM
|
Reference: 11496  

DecreaseIncrease
Image Courtesy: Lucapa
Image Courtesy: Lucapa
Lucapa Diamond Company Ltd. achieved revenues worth $2.3 million from the sale of its fourth parcel of diamonds from the Lulo Diamond Concession in Angola. The average price realized was US$1,500 per carat for the 1,539 carat parcel, reflecting more than 12 times the average global diamond sale price of US$120/carat.

The fourth sale parcel included the 63.05 carat Type IIa D-colour diamond recovered in April 2015 from mining area 31 at Lulo and several other special (+10.8 carats) stones. Lucapa Chief Executive Officer Stephen Wetherall said the fourth sale was proof of the strong and regular cash flows being generated from alluvial mining at Lulo, which commenced in January 2015. “The sale prices we are achieving highlight the financial significance of recovering large special diamonds on a regular basis – as we are doing at Lulo – and gives us further confidence that we are on track to achieve our previously stated objective of becoming cash flow positive by the end of this Quarter. We hope to be in a position to offer our next parcel of Lulo diamonds for sale in June 2015, in line with our strategy of generating sustainable long-term cash flows from regular diamond sales.”

This sale coincides with the commencement of alluvial mining at the high-grade BLK_08 area at Lulo. This area produced a 131.4 carat Type IIa gem – the largest and most valuable diamond recovered during the exploration bulk sampling phase at Lulo.

With the conclusion of this sale, Lucapa has sold generated $7.7 million in gross proceeds from the sale of four parcels of Lulo diamonds, with a total of 3,856 carats. As at the end of April 2015, Lucapa and its partners had recovered 30 special diamonds during exploration bulk sampling and mining at Lulo with an average stone size of 27.8 carats. Apart from these large special diamonds, the Lulo diamond field also produced fancy coloured diamonds (pinks and yellows) and a significant proportion of Type IIa stones.

Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
Advertisement
HouseAd_Trade Fair
Search News by City
Advertisement
HouseAd_Trade Fair
Recent Issue
2019
AVAILABLE NOW...!
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 22905
GJEPC Chairman Interview
Views: 20777
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 27967
Promo for IJ Awards 2012 at NDTV Profit
Views: 41145
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 44756
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 17657
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 42767
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 40641
Member of:
Supporter of: