Lucapa is planning a two-staged development of the Mothae kimberlite project.
On 23 October 2017, Lucapa announced that an optimisation review of the Mothae mine plan had resulted in significant improvements including:
- A 29% increase in gross project revenues to US$776m
- A 26% increase in net operating cash flows to US$312m
- A 22% increase in diamond production to 498k carats
- A 30% increase in kimberlite material mined to 25m tonnes
- A 12% increase in mine life to 13.5 years
- A 31% increase in modelled pre financing project NPV to US$85m (range of US$55-151m)
The improvements in targeted kimberlite to be mined, carat production, net cash flows and mine life are derived primarily from increasing the size of the Phase 1 diamond plant from 100 tonnes per hour to 150 tph and pit optimisation reviews.
The targeted mining and treatment period under Phase 1 remains unchanged at approximately 34 months, with first production scheduled for early H2 2018. During Phase 1, scoping and other studies will be undertaken for the Phase 2 development, which is planned to follow thereafter.
The larger 150 tph plant can also be utilised more completely in the proposed Phase 2 Mothae development plan, under which a second 150 tph module is designed to be installed in parallel to the Phase 1 plant to achieve the targeted 300 tph Phase 2 throughput.
In addition to the larger plant, the pit design resulting from the new mine plan has been optimised and is now set to extract kimberlite to approximately 300m. This compares with a total depth of 255m in the original pit design and mining plan.
Lucapa has funding in place for the Phase 1 development of Mothae.