Mr. William Lamb, CEO of Lucara, noted, "We are pleased with the results of the third sale of Karowe diamonds. The excellent value obtained confirms the high quality of the Karowe production. This is especially significant in the current depressed state of the rough diamond market. The success of the sale complements the ongoing successes at Karowe. For the month of August, design capacity through the process plant was achieved, exceeding our forecast. Infrastructure projects previously reported remain on track and are also contributing to the advances being made on the mine."
The Company expects carat production at Karowe to meet or exceed the previously published forecast for 2012. To ensure consistency of sale parcels, the Company has decided to hold fewer sales of larger sales volumes over the remainder of the year. It is anticipated that two more sales of Karowe diamonds will take place in 2012 with the next sale being held in November.
About Lucara
Lucara is a well positioned emerging new diamond producer. The Company has an experienced board and management team with extensive diamond development and operations expertise. The Company's two key assets are the Karowe Mine in Botswana and the Mothae Project in Lesotho. The 100% owned Karowe Mine is in the production. The 75% owned Mothae Project is currently in the trial mining stage.
Qualified Person
Mr. Anthony George, P.Eng., a mining engineer and Lucara's V.P. Development, is the Company's Qualified Person pursuant to NI 43-101 and has reviewed the technical contents of this news release.
No comments:
Post a Comment