Lucara Diamond exceptional tender bring exceptional revenue

Lucara Diamond Corp. has announced the results from its first large and exceptional diamond tender. The special tender of Karowe diamonds was completed on May 22, 2013 and consisted of 15 single stone lots. All 15 stones were sold for gross revenues of $24.85 million t($30,468 per carat).
The highest value stone was the 239 carat diamond which sold for $5.75 million with an additional 4 diamonds selling for more than $2.5 million each. This special tender of exceptional diamonds is in addition to the Company’s third regular tender which closed on May 14, 2013.
William Lamb, President and CEO, said the company was ecstatic with the results of this special tender and it confirms the quality of diamonds currently being produced from Karowe. “The recovery of large and exceptional diamonds cannot accurately be predicted but the recovery of blue diamonds and now a population of large diamonds are making Karowe a remarkable deposit,” Lamb said.
“To be in a position to hold a large stone tender within the first year of production is exceptional, especially when considering that all the diamonds sold, were recovered from a regular production cycle.
Over the past few weeks additional large diamonds have been recovered and management is currently considering options for holding an additional large stone tender later in the year.”
Modifications to the top size of material that the process plant treats has already been increased ensuring the continued recovery of larger than expected diamonds. Lucara is a well positioned new diamond producer.

The Company has an experienced board and management team with extensive diamond development and operations expertise. The Company’s two key assets are the Karowe Mine in Botswana and the Mothae Project in Lesotho. The 100% owned Karowe Mine is in production. The 75% owned Mothae Project has completed its trial mining program.

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