RAPAPORT... Lucara Diamond Corp.'s first sale of Karowe diamonds through its new online auction system fetched $5.64 million. The company reported that 26,196 carats sold for an average price of $215 per carat and that sale was 86 percent sold by lot.
A top lot included a 25.90-carat diamond, which achieved $130,070, or $5,022 per carat.
"With the first sale of Karowe production Lucara has achieved the final milestone in its transition to an operating company," said Lucara's president William Lamb.
Lamb noted that the sale was a direct reflection of the current status of global markets since not all the diamonds on offer were sold. However, he maintained that the company remains extremely bullish about the overall market outlook overall. "Our new Karowe mine produces high quality diamonds and we can expect to always see steady demand regardless of the cycle the market is in," Lamb added.
The company reported that its progress into full production is making good progress with a main focus on early development of the mine dewatering systems. The weathered nature of the ore being processed requires more water than anticipated during the initial project evaluation, Lucara explained. Plans are currently underway to advance the installation of additional pumps to ensure sustainable water provision to support ramp up activities which are expected to continue into the third quarter.
At the end of May 2012, Lucara had recovered over 33,500 carats from 85,000 tonnes of ore processed at Karowe.
|
|
|
|
|