Lucapa achieves record revenue in 2021
ASX-listed Lucapa Diamond Company achieved A$22.3-million in attributable earnings before interest, taxes, depreciation and amortisation for the year ended December 31, 2021.
In a trading statement ahead of the release of its results towards the end of March, the company reported that it had achieved record operational performances from its Lulo operations, which includes two diamond mines in Angola, and its Mothae operation, in Lesotho.
The record performances were attributed to record volumes processed, carats recovered and sold, as well as some exceptional diamond recoveries.
A record full-year total revenue of A$135-million, implying an average price achieved of A$2 150/ct, has enabled the company to repay A$5.9-million of debt.
Meanwhile, Lucapa in the year under review, completed the acquisition of the Merlin project, in Australia, for A$8.5-million. A scoping study has shown strong economics.
The acquisition was funded through a A$21.7-million capital raising, the balance of which will be used for advancing a feasibility study and for general working capital.
Lucapa and its project partners are also exploring for potential primary source kimberlites or lamproites at the prolific Lulo concession, in Angola; the Brooking project, in Australia; and the Orapa Area F project, in Botswana.
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