- Lucapa Diamond Company (LOM) has recovered its seventeenth +100 carat white diamond from its alluvial mine in Angola
- Lucapa is a diamond producer with high-value mines in Angola and Lesotho, with both producing large and high-value diamonds from the Lulo and Mothae mines
- The 113-carat gem-quality white diamond was recovered downstream of the Canguige river
- The find proves large and high-value diamonds continue to occur right up to the current focus area of their kimberlite exploration program
- Lucapa Diamond Company is up 5.26 per cent, trading at 6 cents per share
Lucapa Diamond Company (LOM) has recovered its seventeenth +100 carat white diamond from its alluvial mine in Angola.
The company, along with its partners, recovered the 113-carat gem-quality white diamond downstream of the Canguige river.
This discovery is significant, proving large and high-value diamonds continue to occur right up to the current focus area of their kimberlite exploration program.
Lucapa is a diamond producer with high-value mines in Angola and Lesotho, with both producing large and high-value diamonds from the Lulo and Mothae mines.
More than 75 per cent of Lucapa and their partners’ revenues are generated from the recovery of +4.8 carat stones.
The Lulo mine in Angola has produced 17 diamonds of more than 100 carats to date and is one of the highest average dollars per carat alluvial diamond producers in the world.
The 1.1 million tonnes per annum (Mtpa) Mothae kimberlite mine in diamond-rich Lesotho began commercial mining and processing operations in January 2019, producing more than 30,000 carats in its first year of production, including four +100 carat diamonds.
Lucapa also recently secured funding to commission a roughly 45 per cent expansion in the processing capacity of the Mothae kimberlite mine from 1.1Mtpa to 1.6Mtpa, which is scheduled for completion within the first quarter of 2021.
Lucapa Diamond Company is up 5.26 per cent, trading at 6 cents per share at 10:48 am AEDT.