Recently, Lucara diamond reported their outlook for Diamond market at the juncture of their Q1 2024 Results.
The Company had expected higher diamond recoveries and diamond quality during Q4 2023 and Q1 2024.
This reflects the natural variability in the resource production in both recovery and diamond quality and were it to continue, this may impact revenue guidance for 2024. The Company has seen diamond recoveries and quality improve during April 2024.
Karowe diamonds are sold through three sales channels,
1: through the HB sales agreement, 2: on the Clara digital sales platform and 3: through quarterly tenders. (Readers, we will focus later on HB sales agreement.
2: Clara Sales Platform: Total volume transacted on the platform was $4.9 million in Q1 2024 (Q1 2023: $5.3 million), with non-Karowe goods representing 33% of the total sales volume transacted. Prices trended flat during the first quarter of 2024 following a small uptick in pricing in December 2023 with a resumption of purchasing across most size categories. The number of buyers on the platform reached 106 as of March 31, 2024.
3: Quarterly Tender: A total of 88,275 carats were sold in the Q1 2024 tender, generating revenues of $13.0 million or $147 per carat (Q1 2023 tender: $12.9 million from the sale of 77,750 carats or $166 per carat). Following a rebound in the fourth quarter of 2023, prices trended mostly flat across most size categories at tender. Like-for-like, prices were up 4% from December 2023 on all goods sold less than 10.8 carats, including on Clara.
Offical Facebook account of heerazhaveraat.com, homepage for Trade News, Articles and Promotion of D
Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
