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Lucapa Sells Lulo Rough for $9M

Miner discovers first diamonds at Mothae asset.
Feb 12, 2018 3:57 AM   By Rapaport News
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RAPAPORT... Lucapa Diamond Company garnered $9.1 million at its January rough sale, achieving an average price of $2,192 per carat. 

The miner sold 4,170 carats at the tender, its first of the year, it said in a recent statement. The diamonds are from the company’s Lulo alluvial mine in Angola.

Additionally, Lucapa has recovered its first stones — including a 6.6-carat diamond — from its Mothae project in Lesotho. Lucapa owns a 70% stake in Mothae, which it bought for $9 million in January 2017, two years after Lucara Diamond Corp. offloaded the mine. The Lesotho government holds the remaining 30%.

Lucapa is also carrying out exploration at the Brooking lamproite project in Western Australia.
Tags: Angola, Brooking, diamonds, lamproite, Lesotho, lucapa, Lucara Diamond Corporation, Lulo, Mothae, Rapaport News, Western Australia
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