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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Lucara Diamond Corp > Sewelo

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Post by KingFox on May 31, 2023 10:50am

Sewelo

"And we are going to be talking about an exciting development for Sewelo in the subsequent slides. The Sewelo which was recovered in 2019 represents the largest diamond to have ever been recovered in Botswana. And we entered into a collaboration agreement with HB Antwerp and Louis Vuitton in 2020.

After almost 2 years of touring this diamond around the world, Louis Vuitton offered to purchase the diamond outright from our partnership in an effort to preserve the diamond rather than polishing it which we think is a terrific outcome. The total value achieved for that diamond between the partners was recognized at $10 million."

so did we recognize $5MM (USD, I assume) in Q1 ? 50% of "partnership"

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Comment by nyoni on May 31, 2023 11:45am

How come there's nothing to see here yet there are 72 views?

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Comment by KingFox on May 31, 2023 4:56pm

yeah, there must be some glitch. The quote was from the recent Q1 CC and I was inquiring about the recognition of the $5MM in the sale of the Sewelo ($10MM of which Lucara had a 50% stake in). I was inquirying was that payment of $5MM (USD?) recognised in Q1'23 ?

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Lucara Diamond Corp