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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 puma1on Apr 16, 2019 10:25am
156 Views
Post# 29632757

production declines

production declines
much needed declines in supply were just reported by the biggest pusher of cheap rough. particularly good to see Argyle down. Hopefully they produce the low end of the guidance and drop from 18.4 million to 15 million. if Q1 run rate of 3.8 continues it will be that lower end.


Rio Tinto's diamond production in Q1 2019 declined by a total of 18% on an annual basis from its two mining operations in Australia and Canada due to lower recovered grade. The lower grade particularly affected diamond output at its 100% owned Argyle mine in Australia, where production fell by 22% year-over-year and 13% from the final quarter of 2018 to just under 2.8 million carats. Likewise, Rio Tinto's attributable output at its 60% owned Diavik mine in Canada (Dominion Diamond Mines own a 40% share) fell by 5% year-over-year and 6% from Q4 2018 to just north of 1 million carats, as lower recovered grades were partially offset by higher ore processing.

Total production achieved from both operations was 3.8 million carats, declining from 4.6 million carats in the same period a year ago and 12% from the 4.3 million carats recovered last quarter. Rio Tinto's diamond production guidance for 2019 is unchanged at between 15 and 17 million carats after having recovered 18.4 million carats last year.

 
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