Lucara’s first 2016 Exceptional Stone Tender garners revenues worth US $51.3 million

Lucara Diamond Corp. announced results of its first Exceptional Stone Tender of 2016. The company which is a high quality diamond producer from its Karowe Mine in Botswana, conducted the special tender of Karowe diamonds with 10 single stone lots. The tender was completed on April 13, 2016 with 10 diamonds totalling 1,525 carats being sold for gross revenues of US $51.3 million (US $33,632 per carat).

William Lamb, President and CEO, commented, "The results from this tender continue to demonstrate the strength of the exceptional stone market. We are very pleased with the quality of the diamonds being recovered which is evident in the consistent average value per carat achieved."

In the sale, seven diamonds sold for more than US $2.0 million each, including four stones which sold for in excess of US $5.0 million each. A 296.7 carat Type IIa diamond sold for US $12.19 million (US $41,088/ct), a 245.4 carat diamond sold for US $10.49 million (US $42,738/ct), a 119.0 carat diamond sold for the highest price per carat of US $58,931/ct.