Bullboard - Stock Discussion Forum 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... see more

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TSX:LUC - Post Discussion

Lucara Diamond Corp > RE:RE:RE:How will it end?

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Post by nyoni on May 29, 2023 7:54pm

RE:RE:RE:How will it end?

Here's what we know:-

1. Bots govt has taken a 24% stake in HB.

2. Bots govt-owned Okabango Diamonds will have a 5 year agreement to sell rough to HB.

3. HB have a 10 year contract to take our +10.8ct stones.

The question is, do HB want any of the 1ct -10.8ct stones (Clara's speciality) they may get from Okavango?

Does the contract in point 3 (above) have anything to say about it?

The Bots President recently said :-

"We have been shortchanged with our resources....... but now we can read, and our eyes are open."

I wonder what opened their eyes?

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Comment by AndersS on May 30, 2023 5:14pm

I'm still wondering why the signed a 10 year contract. But I'm sure the Lundins would not do that unless they had a good reason. Maybe I will eventually understand.

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Comment by nyoni on May 30, 2023 6:10pm

I'm hoping for the explanation of many questions to emerge on, or before, 30th June. There could be a surprise coming. Not long to wait anyway.

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Comment by KingFox on May 31, 2023 10:04am

we also know share price trading at $0.43 CAD, is quickly approaching 2013 lows volume has evaporated market cap now below $150MM USD transparency is now clear as mud

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Comment by Gerrywerry on May 31, 2023 10:43am

Hard not to agree, not really earning those big salaries!

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Comment by nyoni on May 31, 2023 11:41am

Agreed.

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Comment by AndersS on May 31, 2023 5:12pm

Next steps ? 1. HB (which seems to be smart business people) make a cash bid for Lucara at ~1 CAD per share. This is financed by a combination of the money paid by the Botswana government to buy 24% in HB, own capital and bank debt. The Lundin family accepts the offer as they want to focus more on their core business. 2. Profit margin of the mining business is quickly increased by ...more

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Comment by nyoni on May 31, 2023 6:00pm

Or...Clara spins out, govt similarly takes a share in it and feeds Clara with Okavango diamonds in the range 1 ct ~14 ct

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Comment by Gerrywerry on May 31, 2023 6:26pm

It all depends on the govt and debeers negotiations failing , but I think that's fairly unlikely. One thing is sure Clara won't succeed as it is . I kinda like a joint venture with Clara and hb. Something got to change

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