Lucara Diamond Corp. Posts Rise on Year in 2016 Revenues
February 19, 17
(IDEX Online) – Lucara Diamond Corp. has announced revenues of $295.5 million or $824 per carat for 2016 compared with $223.8 million and $593 per carat in 2015.
The year-end cash position was $53.3 million (2015: $134.8 million) following dividend payments of $149.7 million during the period.
William Lamb, President and Chief Executive Officer commented "The company achieved record sales in 2016. We demonstrated our commitment to deliver consistent and sustainable value to our shareholders as well as the strength of our cash flow generation by paying a special dividend during the year, while continuing to advance growth opportunities in Botswana. We remain focused on operating performance at the Karowe mine and are well positioned to continue to drive operating efficiencies and safe productivity in partnership with our new mining contractor. Our capital projects for enhanced diamond recovery are on target to be completed in 2017, ensuring maximum diamond recoveries from the high value south lobe. We also remain excited with our work on resource expansion at the Karowe mine through our deep drilling program and our advanced exploration program in Botswana."