Lucara reports revenue of $20 280/ct from 3rd exceptional stone sale
TORONTO (miningweekly.com) – A special tender of 14 diamonds from Lucara Diamond Corp's Karowe mine, in Botswana, has sold for $22.9-million, or $20 280/ct, the company announced on Tuesday.
The tender comprised a total of 1 028 ct, and the highest value stones sold were a 256.6 ct gem that sold for $4.4-million and a 137.9 ct stone that sold for $4.28-million. Seven more diamonds sold for more than $1-million each.
Lucara said it planned to hold one more regular tender during the fourth quarter, bringing the total volume of diamonds sold in 2013 to more than 420 000 ct as forecast.
The company also announced that the Karowe mine continued to produce exceptionally large stones, including a 167 ct diamond and a 122 ct diamond, which would be sold on tender in 2014.
“The company has received tremendous demand for its beautiful Karowe diamonds. This success truly demonstrates how robust the market continues to be for large, high-quality diamonds. Globally, diamonds above 100 ct are exceedingly rare, yet since March alone, Karowe has produced 16 diamonds greater than 100 ct each,” president and CEO William Lamb said.
Earlier this month, Lucara reported revenues of $50.9-million, or an average of $625/ct during the quarter ended September 30, of which $10.9-million was received in October for its late September tender.
At average operating expenses of $110/ct, the cash operating margin for the quarter was $515/ct. Sales during the quarter included one tender of over 80 000 ct and the company's second exceptional stone tender.
For the third quarter, Toronto- and Gaborone-listed Lucara reported net earnings of $15-million, or $0.04 a share, compared with a loss of $3.4-million, or $0.01 a share, a year earlier.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established in 1983, the ASTPM is an industry association and representative body of the welded carbon steel tube and pipe manufacturers of South...
VISIT SHOWROOM
AirNox (Pty) Ltd is a level 1 BBBEE manufacturer of complete AdBlue® solutions for operators of SCR diesel engines and AUS40 across South Africa...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
