Tacy LTD - LUCARA EARNS $50.5M FROM YEAR'S FIRST EXCEPTIONAL STONE TENDER
14 April 2014
Lucara Diamond Corp. reports that its first Exceptional Stone Tender of 2014 generated gross revenues of $50.47 million, or $42,347 per carat. The special tender of diamonds from the Karowe mine in Botswana, completed on April 10, 2014, consisted of 20 single stone lots totaling 1,191 carats, all of which were sold.
The highest value stones sold were a 167.-carat diamond and an 86.8-carat diamond, which sold for $12.7 million ($75,821/ct) and $5.1 million ($58,627/ct), respectively. Of the 20 diamonds on offer, 15 of these sold for more than $1 million, including eight, which sold for more than $2 million, notes the TSX-listed miner.
In addition to the exceptional stone tender, Lucara held two regular diamond tenders in the first quarter of 2014. A total of 107,500 carats were sold for combined revenues of $33.6 million. This, together with the exceptional stone tender, brings the total year-to-date revenues to $84.06 million, or $782 per carat.
"Strong regular tenders combined with the outstanding results from the exceptional stone tender continue to demonstrate the quality of the Karowe Mine and firmly establishes Karowe as one of the world's leading diamond producers by value, further reinforcing the updated resource statement issued in December 2013," says William Lamb, President and CEO.
According to Lamb, the company's next exceptional stone tender will be scheduled for the third quarter of this year. "Karowe Mine has, this year, produced a number of high value diamonds which we are considering for this tender, including a 153.5-carat gem quality stone."
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