Lucapa reports strong second-quarter performance
ASX-listed Lucapa Diamond Company has reported a strong second-quarter performance, with a record volume of material mined and treated at its Lulo mine, in Angola and its Mothae mine, in Lesotho.
The company recovered 8 202 ct of diamonds at Lulo during the quarter, including the third-largest diamond ever to be recovered at the mine – a 180 ct white Type IIa diamond.
A further 8 075 ct were recovered at Mothae.
Average rough diamond prices for Lulo were 45% higher quarter-on-quarter at $2 892/ct, while the average price for Mothae diamonds increased by 60% quarter-on-quarter at $981/ct.
“After solid delivery and improvements in the first quarter, both mines consolidated those performances and delivered strong operational and financial results for the second quarter.
"The strong average prices our diamonds have attracted this quarter and year to date have demonstrated the continued solid demand for high-value productions like Mothae and Lulo, against a backdrop where the mainstream commercial goods have experienced a little more than the usual cyclical softening in the second quarter.
"Lucapa goes into the second half of the year with a strong balance sheet, having retired its project debt. Both mines are performing well and earnings before interest, taxes, depreciation and amortisation are positive and the Merlin feasibility study is nearing completion,” outgoing CEO Stephen Wetherall comments.
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