The Company’s focus on expanding high-value diamond production from multiple sources is designed to maximise cash generation in a sector of the global diamond market where pricing remains robust.
Lucapa’s flagship operation is the Lulo diamond project in Angola, which produces the world’s highest $ per carat alluvial diamond production.
Lulo is a prolific producer of large and premium-value diamonds, with recoveries including 10 +100 carat diamonds and fancy coloured gems of up to 43 carats.
Lulo has achieved more than US$100 million in sales and has produced Angola’s two biggest recorded diamonds weighing 404 carats and 227 carats.
The Lulo partners are also well advanced with a systematic drilling and sampling program to locate the primary kimberlite sources of the exceptional alluvial diamonds.
Lucapa is also developing the Mothae kimberlite project in Lesotho, southern Africa, to complement the high-value production from Lulo. Mothae remains on track for Phase 1 commercial diamond production in H2 2018.
Mothae is located within 5km of Letseng, the world’s highest $ per carat kimberlite mine. Extensive trial mining has demonstrated that like Letseng, Mothae hosts large and premium-value diamonds.
Lucapa is also achieving success with its earlier-stage exploration programs. In January 2018, the Company announced the discovery of lamproite with high concentrations of diamonds at the Brooking project, located within 50km of the Ellendale mine in Western Australia, where follow-up work is planned after the northern wet season.
Drilling is also planned in 2018 at the Orapa Area F project in Botswana’s prolific Orapa diamond field.