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- Diamond miner Lucapa (LOM) has found its 14th 100 plus carat diamond from its project in Angola
- Coming in at 117 carat, it’s the first 100 plus find for 2020
- This new find was uncovered at the same mining block as Angola’s largest-ever diamond
- The 4th February Stone, a 404 carat diamond, sold in 2016 for over $23 million (US$16 million)
- At Lucapa’s project in Lesotho, it has also found a gem-quality, 60 carat diamond
- Lucapa’s share price closed four per cent in the green, with shares in the company trading for 13 cents each
Diamond miner Lucapa (LOM) has struck big again, uncovering its 14th 100-plus carat diamond from its Lulo project in Angola.
This new diamond comes in at 117 carat and is the first 100 plus find for 2020.
“The recovery of this gem-quality 117 carat diamond represents a positive start for Lulo in 2020 as we continue rolling out our plans to increase production and revenue this year,” company Managing Director Stephen Wetherall said.
At Lulo, the 117 carat diamond was found in Mining Block 19. This was where Angola’s record gem was found, a 404 carat diamond named 4th February Stone. It was sold in 2016 for over $23 million (US$16 million).
Additionally, at the company’s project in Lesotho, the Mothae kimberlite mine, it has recently found a number of large diamonds, one of which is a 60 carat gem-quality stone.
The Mothae kimberlite mine is held alongside the government of Lesotho. Lucapa holds a 70 per cent interest, with the remaining belonging to governing body.
Today’s dazzling result has seen Lucapa’s share price climb four per cent at market close. Shares in the company are now trading for 13 cents each
