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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
Post by NigelDavieson Jul 02, 2016 7:53am
290 Views
Post# 25016671

Selling huge diamonds

Selling huge diamondsI think the problem that the Lucara Board had was selecting a method of selling the diamond. No-one has ever tried to sell a stone like this one before and maybe the method selected was the wrong one, it was too public in my view and I don't think someone is going to want to bid with the eyes of the world via cameras watching them. Having watched the auction, and I am a retired auctioneer, I am pretty sure that the Auctioneer very skillfully ran the price up to the reserve. I am note sure what the highest 'real' bid was. Maybe they should have gone down route they took with the Constellation stone but hindsight is a wonderful thing. The drop in the share price was a bit overdone, after all they still own the diamond. I think the next step will be to discover what they have recovered from Karowe this year, it has been very quiet on that front so far in 2016. I seem to have owned these shares for a very long time, bought them as African Diamonds many years ago. It's certainly been an exciting ride. By the way Botswana Diamonds seem to have a bit of life in them, maybe they'll head the same way as Lucara. GLTA
Bullboard Posts