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Stock Market & Financial Investment News

News Breaks
December 5, 2012
17:05 EDTLUCLukens says 2013 diamond sales expected to increase 75%
Lucara Diamond provides operating performance guidance for 2013. Key operational highlights are as follows: Karowe Mine is projected to process 2.5M tonnes and the company is forecasting diamond sales of 400,000 carats in 2013, an increase of almost 75% compared to 2012. Eight sales are planned for the year with viewings in both Gaborone and Antwerp; Karowe operating cash costs are expected to be in the order of $23 per tonne treated, in-line with feasibility projections; waste will be stripped to access ore in the Centre and South Lobes. Later in the year waste stripping will also provide access to deeper ore benches in the North Lobe; capital expenditures for 2013 are expected to be approximately $3M and reflect ongoing sustaining operational capital. "By the end of the first year of production Lucara will have sold over 230,000 carats of diamond, including a rare 9.46 carat blue diamond which achieved a record price of over $477,000 per carat. We are focused on continuing to build on the operational performance achieved in 2012 with sales expected to increase by almost 75% in 2013 and operating costs targets in-line with the company's feasibility study," the company said.
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September 15, 2014
17:33 EDTLUCLucara awarded two precious stone prospecting licenses in Prapa District
Lucara Diamond announced that the Republic of Botswana through the Ministry of Minerals, Energy and Water Resources has granted Lucara two precious stone prospecting licenses within the Orapa Kimberlite Field in close proximity to the Karowe Diamond Mine. Both prospecting license areas host known diamondiferous kimberlites. Block A or the BK2 license is 1.07 km2 in area and located approximately 30 km to the east of Lucara's Karowe Diamond Mine. The BK2 kimberlite has a surface area of approximately 2.4ha and is exposed at surface in a series of narrow trenches. BK2 was discovered in 1967 and has seen episodic exploration with programs ranging from surface trenching, drilling, and microdiamond sampling. Insufficient drilling has been completed to properly outline the size of the intrusion and establish the internal geology. Previous operators conducted microdiamond sampling on drill chips and surface trench material. A sample of fresh magmatic kimberlite from drilling returned a total of 800 microdiamonds from a 134.4 kilogram sample. A total of 6 diamonds were greater than 0.850mm in size. The previous operator concluded that many of the microdiamonds were fragments of a larger diamond that was likely broken during sampling. Lucara plans to conduct a full site assessment and locate areas amenable for the extraction of a large volume of kimberlite for diamond content and size distribution analysis.

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