Lucapa Diamond Company Achieves US$12.4 Million in Latest Diamond Tender
LOM (LOM) Share Update July 2024 Wednesday 24th
Lucapa Diamond Company Announces Successful Diamond Tender
Lucapa Diamond Company Limited (ASX:LOM) has announced a highly successful special diamond tender, selling a parcel of six Lulo diamonds for a total of US$12.4 million.
Instant Summary:
- Six Lulo diamonds sold for US$12.4 million.
- Total weight of 447 carats.
- Average price per carat of approximately US$27,700.
- The highest price per carat was for a 14-carat pink diamond.
Details of the Diamond Tender
Lucapa Diamond Company Limited (ASX:LOM) has successfully sold a parcel of six Lulo diamonds for a total of US$12.4 million during a special diamond tender. The diamonds, which weighed a total of 447 carats, included five white Type IIa diamonds and one pink diamond. The white diamonds weighed 195 carats, 89 carats, 68 carats, 51 carats, and 28 carats, while the pink diamond weighed 14 carats.
The average price per carat achieved was approximately US$27,700, with the 14-carat pink diamond attracting the highest price per carat from the parcel. The tender was conducted by Sodiam E.P. in Luanda, Angola.
Management's Comments
Nick Selby, Managing Director and CEO of Lucapa, expressed his satisfaction with the tender results, stating, 'A very pleasing tender result, our second this year. Our alluvial project continues to deliver fantastic diamonds that are always in demand through all market cycles and achieve very competitive values.'
About Lucapa
Lucapa is an ASX-listed diamond miner and explorer with assets in Africa and Australia. The company has interests in two producing diamond mines in Angola and Lesotho. The Lulo mine in Angola has been in commercial production since 2015, while the Mothae mine in Lesotho commenced commercial production in 2019.
In 2021, Lucapa acquired the Merlin Diamond Project in Australia, further expanding its portfolio. The company and its partners are also exploring for potential primary source kimberlites or lamproites at the Lulo concession in Angola and the Brooking project in Australia.
The successful sale of the six Lulo diamonds for US$12.4 million is a positive indicator for Lucapa Diamond Company. The high average price per carat, especially for the pink diamond, demonstrates the continued demand for high-quality diamonds. This tender result is likely to boost investor confidence and positively impact the company's stock price.
Investor Reaction:
Investors and analysts have reacted positively to the news of the successful diamond tender. The high average price per carat and the significant total sale amount are seen as strong indicators of the company's ability to generate substantial revenue from its diamond assets.
Conclusion:
Lucapa Diamond Company's successful diamond tender highlights the company's strong position in the diamond market. Investors should continue to monitor the company's performance and consider the potential for future gains as Lucapa continues to explore and develop its diamond assets.