- Lucapa Diamond Company (ASX:LOM) sells four Lulo diamonds from its Lulo mine in Angola for $26 million, with its mine partners Endiama and Rosas & Petalas
- The diamonds each weigh 41, 123, 208 and 235 carats to form 609 carats, sold at $28,000 per carat at a tender conducted by Sodiam E.P in Luanda in Angola
- The diamonds are characterised at Type IIa, and despite costing $28,000 per carat, the 208-carat diamond hit the highest price out of the parcel of four
- LOM CEO and Managing Director Nick Selby said the sale was a positive result for Lucapa in a year when the diamond industry generally suffered weakness in pricing.
- LOM shares are up 2.86 per cent, trading at 3.6 cents at 12:35 pm AEDT
Lucapa Diamond Company (ASX:LOM) has sold four Lulo diamonds recovered from its Lulo mine in Angola for $26 million, with its mine partners Endiama and Rosas & Petalas.
The diamonds each weighed 41 carats, 123 carats, 208 carats and 235 carats to form a combined total of 609 carats, which was sold at $28,000 per carat at a tender conducted by Sodiam E.P in Luanda in Angola.
”The outcome of this tender is very encouraging as it once again, clearly indicates the strength of the market for these exceptional, rare and high-value stones of which Lulo is a consistent producer,” LOM CEO and Managing Director Nick Selby said.
“This is a positive result for Lucapa in a year when the diamond industry generally suffered weakness in pricing.
“With India about to resume rough diamond imports and Russian diamonds potentially having a restricted flow into the market in 2024, we are optimistic that we will see improvement and stability in diamond prices across all sectors of the market in the new year.”
The diamonds are characterised at Type IIa, and despite costing $28,000 per carat, the 208-carat diamond achieved the highest price out of the parcel of four.
LOM shares were up 2.86 per cent, trading at 3.6 cents at 12:35 pm AEDT.