Lucapa sells $35 million to date in 2019

Junior diamond miner Lucapa reported that its latest sales of diamonds from the Lulo alluvial mine in Angola and the Mothae kimberlite mine in Lesotho has taken total sales from both mines to US$35.5 million for the year to date.

In its latest sale, Lucapa had sold a run of mine parcel of 3,558 carats of Lulo diamonds for S$4.4 million, at $1,234/ct. This took total sales of Lulo diamonds to date in 2019 to US$26.5 million at US$2,764/ct. Lucapa pointed out that the latter sale did not include the high-value 46-carat Lulo pink diamond, "which is being considered for cutting and polishing by the Lulo partners to capture margins from beyond the mine gate. A second rough diamond sale of Lulo-produced diamonds will be held before the end of September 2019.

A -parcel of 4,376 carats of Mothae diamonds sold for $1.8 million. A 36-carat, D-color stone was withheld as it is considered for cutting and polishing "to capture margins from beyond the mine gate."

The latest sale took total Mothae sales to date in 2019 to $9.0 million at $539/ct. The most recent recovery at Mothae is 64-carat D-color Type IIa diamond.