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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

Post by AndersSon Jan 02, 2024 9:57am
255 Views
Post# 35806898

Between a rock and a hard place

Between a rock and a hard place

I'm thinkingt that Lucara currently finds itself in a precarious position, akin to being 'between a rock and a hard place'.

Financially, the company is constrained as the consortium of banks backing them has ceased further credit extensions. This situation is further strained by their inability to sell high-value diamonds over 10.8 carats after their deal with HB fell through. Additionally, the company faces increased pressure as their underground mine project is likely to require more cash investment to avoid further delays.
 

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