Lucara Diamond Corp T.LUC

Alternate Symbol(s): LUCRF

Metals & Mining Industrial Metals & Minerals

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.

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Lucara Diamond Corp > Eira

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Comment by nyonion Sep 20, 2022 12:31pm

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Post# 34974072

RE:Eira

To be fair, I can't help thinking that the real problem for Lucara is that lack of a sales agreement between deBeers and the govt.

The President is on record as saying that he wants Debswana sales to be more along the lines of what Lucara is doing.
https://www.thegazette.news/business-2/masisi-under-pressure-to-squeeze-more-from-de-beers/

https://www.africaintelligence.com/southern-africa-and-islands/2022/04/07/masisi-uses-lucara-to-pressure-de-beers-for-better-revenue-sharing-deal,109766266-art

This is where Clara comes in.
From the Q2 results:-
"In Q2 2022, Karowe goods made up less than 60% of the total volume transacted through Clara in Q2 2022, as a third-party producer commenced a series of trial sales which are continuing into Q3 of 2022."

In other words a diamond source, other than Lucara, has been able to lob in (for a trial) more than 40% of what Karowe can put through Clara.

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