05 Dec 2022
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Lucara concludes first Exceptional Stone Tender of Karowe diamonds in 2017
Achieves gross revenues of US$54.8 million
By: Diamond World News Service
May 13 2017 1:08PM
Reference: 15192  

Lucara Diamond Corp announce results from its first Exceptional Stone Tender of Karowe diamonds in 2017 and its eleventh since mining began in 2012. The tender consisted of 15 single stone lots, ranging from 373.72 carats to 29.90 carats in size, totaling 1765.72 carats and achieved gross revenues of US$54.8 Million (US$31,010 per carat).

Seven diamonds sold for more than US$2.0 Million each, the 373.72 carat Type IIa diamond sold for US$17.54 Million (US$46,935/ct), an additional three diamonds sold for more than US$4.0 Million including the 182.47 carat stone which sold for US$6.3 Million. The average value of diamonds sold YTD exceed US$1221 per carat.

William Lamb, President and CEO, commented, "Now in its fifth year of production, Karowe continues to deliver strong, consistent, results from its Regular and Exceptional Tenders, demonstrating the robust nature of the orebody and the predictable contribution from large, high value diamonds (+10.8 carat specials).

This tender achieved a price in excess of US$31,000 per carat, further evidencing the continued, strong demand for our diamonds in the marketplace. To date, the Company has sold 145 diamonds for more than US $1 Million each, bringing in revenues of greater than US$528 Million. These strong cashflows support the Company's dividend policy and growth strategy."

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