Industry News by Nemesis

Lucara to Sell Future Diamond Production Through Clara

September 26, 2018

Lucara Diamond said it will start selling part of its future diamond production through Clara following commercialisation before the end of the year.

Clara was the company’s digital diamond sales platform that uses proprietary analytics together with cloud and blockchain technologies to transform the sales process, matching diamond demand to supply.

Lucara said in a presentation at the precious metals summit in Beaver Creek that it would as of its fiscal third quarter hold a blended tender process, whereby a greater number of exceptional stones will be sold as part of the regular stone tenders (RSTs).

It said a blended tender process would decrease the inventory time for large, high value diamonds and generate a smoother, more predictable revenue profile, that better supports price guidance on a per sale basis.

Lucara said its forecast sales remained in line with guidance of between $170 million and $200 million.

It had projected to sell 270,000 to 290,000 carats of diamonds at an average price of between $630 and $690 per carat.


Source: Rough&Polished

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