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).

 

LOM Lulo diamonds

Figure 1. Lulo diamonds from the third parcel including a 10.15 carat gem

 

 

For further information, visit www.lucapa.com.au

 

 

Resources Stocks to Watch (RSTW) is the leader in research on ASX micro to mid-cap mining stocks and commodities. We are independent and therefore not sponsored by the mining industry so we tell it like it is. Our research is written by experienced geologists and resources analysts, the experts in the field.

Resources Sector Recent News Items

News Archives

News Categories