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Lucapa Diamond completes fifth Angolan diamond sale

Gross proceeds from 2017 diamond sales stand at A$20.3 million.

Lucapa Diamond Company (ASX:LOM) has achieved gross sales of US$0.95 million or A$1.25 million from its fifth diamond sale in 2017.

The alluvial diamonds being sold are mined from Lucapa’s flagship Lulo Diamond Project in the African country of Angola.

The parcel of 1,236 carats achieved an average price per carat of US$770 or A$1,013.

The latest sale brought the gross proceeds from Lulo diamond sales to date in 2017 to US$15.4 million or A$20.3 million at an average price per carat of US$1,620 or A$2,132.

The diamonds from this sale were primarily from Mining Block 28 but mining has since returned to the higher-value Mining Blocks 8 and 6.

The Lulo Diamond Project is a partnership over a 3,000 square kilometre concession.

It is a joint venture between Lucapa, Endiama (Angolan government) and Rosas & Petalas – a private partner.

Lucapa holds 40% of the alluvial diamond mining operations and is the operator where it recovers large premium-value diamonds of up to 404 carats.

Recent exploration activities at Lulo discovered a new kimberlite pipe, L14.

Source: Proactiveinvestors Australia

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