Diamond miner Lucapa shines with $9.2m sparkler sale
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Diamond miner Lucapa Diamond Company has pulled in a nice $9.2 million from its latest auction of alluvial diamonds from the Lulo project in Angola.
The news saw a slight rise in the stock (ASX:LOM) which gained 4 per cent to 27c in late morning trade valuing the company at $94 million.
The sale of 3214 carats of Lulo diamonds represented an average price of $2863 per carat.
The latest sale brought gross proceeds from Lulo diamond sales to date in 2017 to $30.2 million at an average price of $US2036 per carat.
Diamonds from the latest sale were mainly recovered from the high-value Mining Block 8 area at Lulo, where mining operations continue.
Mining Block 8 has been a prolific producer of large, premium value diamonds for Lucapa.
Last year Lucapa sold Angola’s biggest recorded diamond, a monster 404 carat stone, for a cool $US16 million ($20.2 million).
In 2016, the Lulo project produced the highest price per carat of any run-of-mine diamond production in the world.