Lucapa Diamond Company Limited (ASX: LOM) – $0.310 (+11%)
18 Dec 2014
Lucapa Diamond Company Limited (ASX: LOM) will commence mining of alluvial diamonds at the Lulo Diamond Concession in Angola in January 2015.
The company and its project shareholders signed a comprehensive mining agreement to mine alluvial diamonds at Lulo for 35 years. The licence covers a 218km2 area.
The company is evaluating various debt financing options to fund Phase 1 optimisation and technology improvements.
The company’s third parcel sale of Lulo diamonds is scheduled for February 2015. As with the previous two parcels, the third parcel will also be sold through the Angolan Government diamond marketing agency, SODIAM. The parcel is expected to exceed 1,000 carats including a 10.15 carat Type IIa diamond with an interim valuation of over US$18,000 per carat (Figure 1).
Figure 1. Lulo diamonds from the third parcel including a 10.15 carat gem
For further information, visit www.lucapa.com.au
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