Lucara Diamond Corp. (TSX: LUC) is a new diamond producer. It's two key assets are the Karowe mine in Botswana and the Mothae project in Lesotho. The 100% owned Karowe Mine is a newly constructed state-of-the-art mine which was fully commissioned in Q2 2012. At the 75% owned Mothae project the company has completed the trial mining stage.
The Mothae plant was put on care and maintenance while the Company investigates further development options. Both Mothae and Karowe are large scale assets with tonnage and throughput upside and production has consistently included large, Type IIA stones. SNNLive spoke with William Lamb, President and CEO of Lucara Diamond Corp. at the Sprott Natural Resource Symposium 2014 in Vancouver, BC.
“About six years we’ve been listed on the exchange, been in production for about two and a half of those,” begins Mr. Lamb. He continues, “We sold 180.5 million worth of diamonds last year, significantly above the original estimate of around about 92 to 100 million dollars and it’s really through the recovery of some large exceptional stones and through this year we’ve actually seen that trend continue with a gain, strong recoveries on the large diamonds and significant revenue generated from those sales.”
Mr. Lamb explains, “Margins generated in the diamond sector are most probably far better than a lot of other commodities and it is a great business to be in, not just from the story side of things, but also from the ability to generate returns for shareholders.” For more information, check out their website at http://www.lucaradiamond.com/s/home.asp
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