Lucapa Diamond Company – Page 3 – The Diamond Certification Laboratory of Australia (DCLA)

Lucara Recovers 470 Carat Diamond from the Karowe Mine in Botswana

*470 carat diamond recovered from the Karowe Mine in Botswana*

Lucara Diamond Corp. is pleased to announce the recovery of a 470 carat top light
brown clivage diamond from its 100% owned Karowe Diamond Mine located in Botswana.

The diamond, measuring 49x42x26mm, was recovered from direct milling of ore sourced from the EM/PK(S) unit of the
South Lobe. The 470 carat recovery forms a notable contribution to a series of top quality gem and clivage quality
diamond recoveries during a recent production run, including an additional 5 diamonds greater than 100 carats
(265ct, 183ct, 161ct, 116ct, 106ct) and 13 diamonds between 50 and 100 carats in weight.

The May production run, dominated by EM/PK(S) ore, produced diamonds greater than 10.8 carat in weight accounting for 12.7% weight percent of total production, exceeding resource expectations. Continued strong resource performance and recovery of large diamonds reinforces the significance of the EM/PK(S) as an important economic driver for the proposed underground mine at Karowe.

The 470 carat diamond was recovered in the Coarse XRT circuit and represents the third +300 carat diamond
recovered to date in 2021. Year to date, Karowe has produced 10 diamonds greater than 100 carats including 6
diamonds greater than 200 carats, including the 341 carat (link to press release) and 378 carat (link to press release)
top white diamonds recovered in January 2021.

Lucapa acquires Merlin diamond project in Australia

*Merlin diamond mine in Australia’s Northern Territory.*

Lucapa Diamond announced that it has entered into a binding asset sale agreement for the acquisition of a 24km2 mining lease and a 283km2 exploration tenement encompassing the mining lease and associated equipment and assets the Merlin Assets from Merlin Operations Pty.

Merlin Operations is a wholly-owned subsidiary of Merlin Diamonds Limited, which is in liquidation. The Merlin Tenements are located in the Northern Territory of Australia, approximately 720km southeast of Darwin.

Merlin is home to Australia’s largest mined rough diamond on record and has the potential to be the
only producing diamond mine in Australia, following the closure of Rio Tinto’s iconic Argyle mine in 2020, after 37 years in production.

The strategic acquisition is supported by a A$20 million ($15.5m) private placement plus a share purchase plan to raise up to A$3 million ($2.3m).

The acquisition price of A$8.5m cash represents a ~A$2/ carat multiple on Merlin’s existing 4.4m
carat JORC compliant resource and complements Lucapa’s existing portfolio, the company said, adding a near-term development opportunity with an existing 4.4m carat mineral resource estimate in Australia to Lucapa’s two existing producing assets in Angola and Lesotho.

The ~300km2 tenement package also comes with significant exploration upside, Lucapa said, through over 70 unresolved anomalies in areas where all kimberlite discoveries have been diamondiferous.

Source: Mining.com

Lucapa recovered a 100 carat diamond

Lucapa Diamond Company and its partners, Empresa Nacional de Diamantes E.P. and Rosas & Petalas, have recovered the 23rd rough diamond over 100 carats at the Sociedade Mineira Do Lulo from the Lulo alluvial diamond mine in Angola.

The 144 carat Type IIa D colour diamond was recovered from Mining Block 08, is the sixth 100 carat diamond recovered in 2021 so far and 23rd 100 carat stone recovered at Lulo since exploration and mining operations began.

Including the first 100 carat recovery from MB46 as 2020 ended, SML has now recovered seven 100 carat diamonds in a little over three months. With these 100 carat recoveries and the two Special pink diamonds in inventory, SML is well positioned to achieve record diamond revenues for the first half of 2021.

Source: miningreview

Three +100 carat diamonds recovered at Lucapa’s Lulo mine

Lucapa Diamond Company and its partners Endiama and Rosas & Petalas have announced the recovery of three +100 carat diamonds by Sociedade Mineira Do Lulo from the Lulo alluvial diamond mine in Angola.

The 131-carat is a Type IIa D-colour diamond, the 118-carat is a brown diamond and the 133-carat stone is a lower-quality grey diamond.

Six +100 carat diamonds have been recovered from Mining Block 46 (MB46) in the last three months, reaffirming its recent elevation to the Lulo mining block with the best +100 carat diamond occurrence rate – one +100 carat diamond for every ~20,000 bcm’s of gravel.

The Canguige catchment and adjacent priority kimberlites are already the focus of the Project Lulo JV kimberlite exploration program, and the frequent recovery of large high-value diamonds underpins the prospectivity of this area.

Source: miningreview

Lucapa recovers third 100+ carat diamond for 2021

114-carat white diamond recovered at Lulo

Lucapa Diamond Company has discovered a 114-carat white diamond from the Lulo alluvial diamond mine in Angola, Africa.

The 114-carat Type IIa D-colour white diamond is the third diamond mined from Lulo’s mining block 46 (MB46) in the last eight weeks.

Lucapa managing director Stephen Wetherall said block 46 was the best mined block to date.

Lucapa stated that the new discovery demonstrated the value of Lulo’s Canguige catchment and its adjacent kimberlites.

“To date, MB46 has averaged one 100-plus carat diamond recovered for every ~33,000 billion cubic metres of gravel processed. This is the best occurrence rate for any block mined to date at Lulo, including the prolific MB08,” Lucapa stated.

The 114 carat diamond is the 19th 100-plus carat diamond recovered from Lulo.

Lucapa started commercial diamond production at the site in 2015.

The recovery follows Lucapa’s announcement of discovering a 215-carat diamond from its Mothae kimberlite mine in Lesotho, Africa this week.

Lucapa plans to expand Mothae to a 1.6 million tonnes a year processing capacity, a 45 per cent increase from its current rate.

Source: australianmining

Lucapa finds massive white diamond at Mothae

Lucapa Diamond Company has recovered a 215-carat diamond from the Mothae kimberlite mine in Lesotho, Africa.

The discovery is the largest Type IIa D-colour white diamond recovered through the 1.1 million tonnes a year Mothae plant since mining operations commenced in January 2019.

The stone is also the second 200-carat-plus and fifth 100-carat-plus diamond recovered through the plant.

Lucapa managing director Stephen Wetherall said the continued recovery of large diamonds at Mothae validated its recent investment decision to expand capacity at the mine.

The company plans to expand Mothae’s processing capacity by around 45 per cent to 1.6 million tonnes a year.

This is scheduled for completion in the first quarter of 2021.

“Lucapa has now produced 23 (100-carat-plus) diamonds, four of which are greater than 200 carats (across the two mines) and we, together with the (Government of the Kingdom of Lesotho) as mine partner in Lesotho and Endiama and Rosas & Petalas as mine partners in Angola, look forward to many more such exceptional mining recoveries,” Wetherall said.

The Lesotho Government holds a 30 per cent stake in the Mothae mine, with Lucapa holding the remaining 70 per cent.

Source: Australian mining

Lucapa’s Lulo diamonds fetch US$5.9 million

Lucapa Diamond Company and its partners have announced the results of the first diamond sale of 2021 by Sociedade Mineria Do Lulo (SML) from its Lulo alluvial mine in Angola.

The rough diamond parcel of 4,273 carats was sold for a total of US$5.9 million (A$7.7 million) or US$1,375 (A$1,793) per carat.

Lucapa MD, Stephen Wetherall comments: “As with the first sale of Mothae diamonds in 2021, prices achieved by SML at this sale continued to reflect the positive industry mood, and with sales from both operations in 2021 already totalling A$15 million, it has been a solid start to the year.”

Source: miningreview

Bristow to finally put Rockwell Diamonds saga to bed after firm unveils wind-up plan

MARK Bristow, CEO of Barrick Gold Corporation, is to finally close the book on Rockwell Diamonds, a company he chaired and which he once attempted to save from bankruptcy.

Rockwell Diamonds announced today the Canadian listing authority had revoked a cease trade order which had been issued as the company had previously failed to produce quarterly numbers with the accompanying management discussion.

The company today filed third quarter numbers and announced its intention to wind up its affairs in which a company owned by Bristow, ‘Bristco’ would mop up the interests of minority shareholders in Rockwell and put them into ‘Amalco’.

Dissenting shareholders would have their interests exchanged on a one-for-one basis for redeemable preference shares of Amalco.

The redeemable preference shares would then be immediately redeemed by Amalco in exchange for half a Canadian cent per share, payable in cash. A meeting of shareholders requiring a simple majority has been arranged for March 2.

Bristow first sought to bail out Rockwell Diamonds, which was once run by his brother, John Bristow, in 2014, in which Mark Bristow bought $1.1m in debentures. In 2016, Bristow embarked on a process of ‘fumigation’ in which he restructured the firm’s board and conducted an overview of its operating activities.

Unfortunately, the company never managed to gain traction at its key asset, the 200,000 cubic metres a month Wouterspan, situated in the alluvial diamond fields region of the Northern Cape province.

There was a proposed $8m recapitalisation of the company in 2017.

The company was subsequently put into liquidation proceedings following attempts by a business practitioner to save it from failure. The company was in and out of court throughout this period with claims of corruption involving contractors.

In 2019, Bristow completed the merger of his Randgold Resources with Barrick Gold, a fabulously successful transaction which as coincided with high gold prices.

Source: miningmx.com

Lucapa’s run of recovering +100 carat diamonds continues

Lucapa Diamond Company and its partners have announced the recovery of the 18^th +100 carat white diamond by Sociedade Mineria Do Lulo (SML) from its Lulo alluvial mine in Angola.

The recovery of this second +100 carat diamond from Mining Block 46 (MB46), a 104 carat D colour white stone, so soon after the 113 carat D colour white stone, indicates the potential for these blocks as the company moves deeper into the southern terraces.

Source: miningreview.com

Mothae diamonds sell for $7.2 million

Lucapa Diamond Company and its partner, the Government of the Kingdom of Lesotho, have provided an update on the first sale of diamonds in 2021 from the Mothae kimberlite mine in Lesotho.

The parcel of 4,676 carats of rough diamonds were sold for a total of US$5.6 million or US$1,198 per carat. This is the highest average US$ per carat price achieved by Mothae on the sale of any run of mine production parcel.

The sale included a number of Specials (diamonds weighing >10.8 carats), including the 101 carat D colour diamond recovered following re-opening of the mine in Q4 2020, which is the most valuable diamond recovered to date at Mothae.

Lucapa MD, Stephen Wetherall comments:

“Following a tough 2020, where both of our mines were impacted by the pandemic, our valued teams have shown their resilience and operations have bounced back strongly.

“The good recoveries at both mines and growing demand leading to strengthening diamond prices has seen a strong start to 2021.”

“We look forward to Mothae receiving further value following implementation of the cutting and polishing partnership and to completing the expansion at Mothae this quarter.”

Source: miningreview