Lucara Diamond Corp achieved earnings before interest, taxes, depreciation and amortisation (Ebitda) of $18.2-million for the third quarter ended September 30, compared with the Ebitda of $49.8-million reported for the quarter ended September 30, 2017.
The decrease in Ebitda reflects lower revenues attributable to a smaller volume and lower average price of exceptional stones sold, with the sales for the third quarter of 2017 having included the 1 109 ct Lesedi La Rona.
Net income for the three months ended September was $5.1-million ($0.01 a share), compared with net income of $32.9-million ($0.09 a share) in the comparable quarter of 2017.
The company’s full-year guidance has been increased in terms of tonnes of ore mined and carats recovered; the remainder of the company’s guidance remains unchanged for 2018.
Lucara’s Karowe mine in Botswana’s overall performance with respect to ore and waste mined, ore processed and carats recovered was within forecast for the third quarter.
Ore and waste mined was 1.2-million tonnes and 3.9-million tonnes, respectively.
Ore processed totalled 730 000 t, with a record 260 000 t processed in September.
Lucara recovered 197 specials – single diamonds weighing more than 10.8 ct – during the third quarter. Ten diamonds weighing more than 100 ct were recovered.
“Third quarter operational performance at Karowe exceeded expectations with respect to ore mined and carats produced, and reflects a seamless transition, three months ahead of schedule, to our new mining contractor, Trollope Mining Services,” Lucara president and CEO Eira Thomas commented in a statement published on Friday.
Commercialisation efforts at the company’s digital sales platform Clara are tracking according to budget and plan with inaugural sales expected to begin this month.
Meanwhile, the company achieved quarterly sales revenue of $45.7-million or $450/ct, compared with $77.9-million or $1 161/ct in the prior comparable period.