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Lucapa Diamond Company (ASX: LOM) - CEO, Stephen Wetherall - The Market Herald
CEO, Stephen Wetherall
Source: LinkedIn
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  • Lucapa Diamond Company (LOM) has recovered its eighteenth white diamond of more than 100 carats from its Lulo alluvial mine in Angola
  • Lucapa is a niche diamond producer with high-value mines in Angola (Lulo) and Lesotho (Mothae)
  • This is the second diamond of more than 100 carats that Lucapa has recovered from Mining Block 46
  • The diamond is a 104-carat, D-colour white stone, further indicating the potential of these mining blocks
  • Lucapa Diamond is up 2.99 per cent, trading at 6.9 cents

Lucapa Diamond Company (LOM) and its partners have recovered its eighteenth white diamond of more than 100 carats from its Lulo alluvial mine in Angola.

Lucapa is a niche diamond producer with mines in Angola (Lulo) and Lesotho (Mothae), both producing large and high-value diamonds, with more than 75 per cent of revenues generated from the recovery of stones with more than 4.8 carats.

To date, Lulo has produced 18 100+ carat diamonds and is one of the highest average $US-per-carat alluvial diamond producers in the world, while Lesotho has produced over 30,000 carats within its first year of production in 2019, as well as four 100+ carat diamonds.

This is the second diamond of more than 100 carats that Lucapa, along with its partners, Empresa Nacional de Diamantes E.P. (“Endiama”) and Rosas & Petalas, has recovered from Mining Block 46.

The diamond is a 104-carat, D-colour white stone, further indicating the potential of these mining blocks, which will encourage deeper mining into the southern terraces.

Additionally, the proximity of Mining Block 46 to the high priority kimberlites in the Canguige catchment is also noteworthy.

Lucapa Diamond is up 2.99 per cent, trading at 6.9 cents at 10:27 am AEDT.

LOM by the numbers
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