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An example of one of a rough diamond yielded by Lucara's Mothae diamond project

Lucara Diamond reports outstanding results from its second tender of rough diamonds recovered from the Mothae mine in Lesotho. A total of 7,190 carats in 28 sale lots were offered on tender in Antwerp between December 5 through 9, 2011. 

 

All 28 lots received multiple bids and winning offers resulted in an average price of $893 per carat and gross proceeds of $6.4 million, an increase from Lucara’s first diamond sale earlier in the year.

 

The three stones with the highest per carat value, all Type IIa, were a 28.89 carat diamond which sold for $1.6 million ($57,113/ct, a record for Mothae), a 56.51 carat diamond which sold for $2.1 million ($37,019/ct), and a 19.20 carat diamond which sold for $490,000 ($25,520/ct).  These prices signify the exceptional quality and size of the stones that are regularly recovered from Mothae.

 

Lucara Diamond CEO William Lamb commented, “The results of this sale re-confirm the presence of a population of large, top quality diamonds within the Mothae kimberlite and demonstrate that these stones can be recovered with a regularity which greatly enhances the economic potential of the project. “

 

“We are particularly pleased with the enthusiastic market response to Mothae production, suggesting that we can always expect strong demand for our type of diamonds regardless of market conditions,” Lamb continued.