News Bureau

Lucara revenue lowers!

Lucara earns more per carat!

Recently Lucara announces said in a Full Year Results that their revenues of $220.8 million or $847 per carat while that was $295.5 million by earning $824 per carat in 2016. Perhaps, their Year end cash position was $61.1 million over the 2016 of $53.3 million.

Karowe Mine: The south lobe continued to produce high value diamonds during the year with a total of 521 specials (>10.8 carats), 5.6% weight percentage of total recovered carats in 2017 (2016: 4.9%). Excluding the sale of the Lesedi La Rona the average sales price for 2017 was $647 per carat, in line with the 2016 average sales price of $649 excluding the sale of the 813 carat Constellation diamond.

William Lamb, President and Chief Executive Officer commented "The Company continued to receive strong prices for the sale of our diamonds this year demonstrating the quality of the south lobe diamonds at Karowe. Our capital projects for enhanced diamond recovery were completed on time and within budget and will ensure maximum value is recovered at the mine. These systems are operating well and above expectation. We are advancing our resource expansion work with the underground study at Karowe, with a pre-feasibility study to be completed during the second half of 2018."

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