Lucapa starts 2021 by finding another cache of +100 carat diamonds

ASX diamonds producer Lucapa Diamond Company (ASX:LOM) has kicked off 2021 with a decent rock.

This 113 carat gem-quality sparkler:

It’s the 17th +100 carat diamond recovered from Lucapa’s Lulo alluvial mine in Angola, but the first found from Mining Block 46.

In other words, the Lulo hits keep coming.

Lucapa says it was found downstream of the Canguige river and the most significant part of it all is that it proves massive diamonds “continue to occur right up to the current focus area” of its kimberlite exploration program.

Lucapa ends 2020 with giant pink diamond

The Lulo mine is one of the highest average US$ per carat alluvial producers in the world. Last month Lucapa sold a a massive 46-carat pink rough diamond to the South African Diamond Corporation (Safdico) for an undisclosed amount of money.

Safdico cut the stone into three polished diamonds, the heaviest of which weighed in at 15.2 carats.

Similar cut pink diamonds have achieved a sales price of $US1 million to $US2 million per carat, indicating a market value for the largest Lucapa gem of up to $US30.4m ($41m).

Lucapa’s other African mine, Mothae, is in Lesotho and began production in January 2019. It produced more than 30,000 carats in its first year and was recently funded to expand from 1.1Mtpa to 1.6Mtpa by the end of Q1, 2021.

Lucapa shares were up 5.36% today.