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Bullboard - Stock Discussion Forum 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... see more

TSX:LUC - Post Discussion

Lucara Diamond Corp > Between a rock and a hard place
View:
Post by AndersS on Jan 02, 2024 9:57am

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.

Comment by Gerrywerry on Jan 02, 2024 11:18am
And nobody to blame but themselves