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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 dhparon Jun 12, 2012 9:02am
216 Views
Post# 20002650

more on NR

more on NR

ok. so we didn't sell some larger stones and the revenue is lower by some $2m. not that big of a deal - especially not justifying 15% sell-off imo. in the first place i never understood why we go with the online auction (a novelty) for the first sale - this must always lead to lower prices as the buyers are double cautious. bad judgement by the mgmt! on top of that the first sale is less than a week before the all important Greece elections and into softer/cautious diamond demand.

 

other than that there are some things I need to help with from more knowledgeable posters here:

1. so the grade is 39-40cpht. why is the remainder of the year expected to be half that at 20cpht? (still above the original expectations i should say...)

2. more importantly why did we processed only 85,000 tonnes? the mine is online for at least 6 weeks now (ok not yet optimized to the top output of 2.5Mtpa) but I would expect something more like 300,000 tonnes processed in that timespan...

Bullboard Posts