Lucapa has found 118 ‘special’ diamonds so far in 2018
Mining & Resources
Sample of Lulo diamonds sold during the June 2018 quarter. Pic: Lucapa
Diamond miner Lucapa found 118 “specials” in the first half of 2018, including the giant pink rock it uncovered in May from its Lulo mine in Angola.
Lucapa (ASX:LOM) reported today it found 2,838 carats of special diamonds in the last six months from its Lulo mine.
The stock rose slightly to 27c. It’s traded as high as 34c this year.
The company had already banked $US2 million ($2.7 million) towards the end of June from the sale of Angola diamonds, but made $US15.9 million in the first half of the year.
“These diamonds were sold at an average price per carat of $US1,479 for the quarter and $US1,642 for H1 2018,” the company said.
“These positive sales revenues and prices were achieved notwithstanding the decision to withhold from sale the large high-value Specials.”
“The grade recovered during the quarter was slightly lower at 7 carats per 100 cubic metres (cphm3), although the overall grade for H1 2018 improved 10 per cent to 7.1 cphm3.”