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Lucara Diamond Corp T.LUC

Alternate Symbol(s):  LUCRF

Lucara Diamond Corp. is a Canadian diamond mining company with a producing mine and exploration license in Botswana. It is an independent producer of large Type IIa diamonds from its 100% owned Karowe Diamond Mine in Botswana. The Karowe Mine is the focus of the Company's operations and development activities. Its 100% owned Karowe mine is a producer of large Type IIA diamonds, more than 10.8 carats, including the historic 1,758 Sewelo, the 1,109 carat Lesedi La Rona and the 813-carat Constellation.


TSX:LUC - Post by User

Bullboard Posts
Comment by cigarsailoron Aug 17, 2010 11:28pm
257 Views
Post# 17359788

RE: At a standstill..

RE: At a standstill..I think Nyoni found the right news tidbit.  We could see Gem Diamonds make the run at Africa Diamonds and then maybe offer to take out Lucaras stake at AK6 in Botswana.  Lucara would then have the capital to proceed with the Mothae Mine in Lesotho without having to dilute themselves as much to raise the capital needed for ramp up to full production.  I doubt an unsolicited takeover bid of Lucara would succeed - between Seltzer, Thomas, and Lundin's holdings as well as Lorita's large chunk (Lorita Holdings is owned by the Lundin family) it might be difficult to pull off.  I think the Lundin's want a diamond mine they can call their own (sort of) and Mothae may be their ticket.  Of course the Lundin's may be well aware of what's going on...
Bullboard Posts