Lucapa Diamond Company announces Quarterly Activities & Report for the period ended 30 September 2024. Lulo’s carat production was in line with Q3/2023, despite the change of mining plan due to late season flooding. The lower recovered grade was offset by the processing of a larger volume of gravel. During the third Quarter, the team completed one river diversion and commenced a second, to gain access to the higher grade Lazaria (Floodplain) gravels.
Managing Director, Nick Selby, commented: “Mining at Lulo in the third quarter consisted of a mixture of terrace and leziria blocks. Leziria mining was ramped up following the late season flooding experienced in Q2.
We are encouraged by the early outcomes from mining in leziria Block 1 and look forward to the results to come from the higher grade Block 6 after completing the river diversions. Block 6 has historically produced large, high value diamonds, and we are aiming for a strong finish to the year in terms of Lulo’s production.”
Lulo sold 5,587 carats through one tender and two run of mine sales in Q3 for revenue of US$16.9 million at an average price per carat of US$3,033. As announced to the ASX in July Six Lulo diamonds sell for US$12.4 m at tender the 447 carat parcel achieved US$27,700 per carat.
A 176 carat Type IIa diamond recovered during Q3 was sold at tender post quarter end for US$3 million or
US$17,200 per carat.
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