Lucapa Diamonds Sells Sixth Lulo Parcel for $3.7 million

October 14, 15 by David Brummer

(IDEX Online News) – Lucapa Diamond Company’s latest sale generated AUD$5.1 million ($3.7 million). The parcel, the sixth, from the Lulo Diamond Concession contained 1,621 carats, which sold for an average of $2,269 per carat (p/c).

The sale brought the gross proceeds generated across the six parcels to more than $10 million and represented more than 18 times the average global diamond sale price of $120 p/c. The parcel included the 90.32-carat Type IIa D-colour diamond recovered in September from Lulo and fancy yellow and pink stones.

“The premium average prices we are achieving for our diamonds significantly enhances the value and planned returns of every cubic meter of alluvial gravel we mine at Lulo,” said Lucapa chief executive Stephen Wetherall. “We are continuing to recover large special diamonds from Mining Block 8 and expect to conclude one or possibly two more diamond sales in 2015.”

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