Industry News by Nemesis

Lucara Raises $38.7 Million at Second Exceptional Stone Tender of 2016

November 22, 2016

Lucara Diamond Corp. says a tender of Karowe diamonds consisting of 12 single stone lots and totaling 1,098 carats were sold for gross revenues of $38.7 million ($35,230 per carat) at its second Exceptional Stone Tender of 2016.


Five diamonds were sold for more than $2.0 million each, while a 224.5 carat Type IIa diamond was sold for $11.11 million ($49,497 per carat), which was also the highest value per carat diamond. 


A 162.3 carat diamond sold for $4.88 million ($30,117 per carat), and an 81.8 carat diamond sold for the second highest price per carat of $46,138 per carat.


William Lamb, President and CEO, commented, "It is fitting that this tender, the tenth Exceptional Stone Tender for the company was concluded on the one year anniversary of the recovery of the historic 1,109 carat, Lesedi La Rona diamond. 


"To date, the company has sold 144 magnificent diamonds bringing in revenues of greater than $460 million. This includes 143 diamonds sold through the exceptional stone tender process and also the beautiful 813 carat Constellation diamond which was sold in a private transaction. These ongoing excellent results demonstrate the sustainability of production and the continued strong demand for Karowe's high value diamonds."


Source: Idex

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