Lucapa announces Lulo mine diamonds sale for US$2.3 million

Lucapa Diamond Company Limited (ASX: LOM) (“Lucapa” or “the Company”) and its partners Empresa Nacional de Diamantes E.P. (“Endiama”) and Rosas & Petalas are pleased to announce the results from the latest sale of diamonds from the Lulo alluvial diamond mine in Angola (Sociedade Mineira Do Lulo or “SML”).

A total of 3,477 carats of Lulo diamonds sold for gross proceeds of US$2.3 million (A$3.2 million) on a 100% basis, representing an average price of US$663 (A$911)/ carat.

Total sales year to date amount to 12,266 carats for US$15.7 million (A$23.2 million) or US$1,283 (A$1,892)/ carat.

Lucapa Managing Director Stephen Wetherall commented: “SML has delivered strong operational performances soon after recommencing operations following the lockdown. Although the average diamond size in this sale parcel was smaller than average, the encouraging signals being seen in the industry currently have led to upward price movements across a number of diamond categories. That together with the record recoveries from the leziria areas suggests Lulo should have a much improved second half in 2020”.

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