Lucara’s exceptional stone tender generates $50.5 million

Lucara blue diamondLucara Diamond Corp. has announced the results from its first Exceptional Stone Tender of 2014. The special tender of Karowe diamonds was completed on April 10, 2014 and consisted of 20 single stone lots.

All 20 diamonds, totaling 1,191 carats were sold for gross revenues of $50.47 million ($42,347 per carat). The highest value stones sold were a 167.1 carat and an 86.8 carat diamond which sold for $12.7 million ($75,821/ct) and $5.1 million ($58,627/ct) respectively. Of the 20 diamonds on offer 15 of these sold for more than $1.0 million, including 8 which sold for more than $2.0 million.

In addition to the exceptional stone tender, the Company held two regular diamond tenders in the first quarter of 2014. A total of 107,500 carats were sold for combined revenues of $33.6 million. This together with the exceptional stone tender brings the total year-to-date revenues to $84.06 million equal to $782 per carat.

“Strong regular tenders combined with the outstanding results from the exceptional stone tender continue to demonstrate the quality of the Karowe Mine and firmly establishes Karowe as one of the world’s leading diamond producers by value, further reinforcing the updated resource statement issued in December 2013,” William Lamb, President and CEO, said.

“The Company’s next exceptional stone tender will be scheduled for the third quarter of this year. Karowe Mine has, this year, produced a number of high value diamonds which we are considering for this tender, including a 153.5 carat gem quality stone.”

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