Join our daily newsletter At The Bell to receive exclusive market insights
- Lucapa Diamond Company (LOM) has placed its shares in a trading halt in regard to a capital raising and material acquisition
- The company will remain in the halt until May 24 or when more details regarding the capital raise and acquisition are released, whichever occurs first
- Lucapa has two diamond mines in Africa — Lulo and Mothae — both of which produce high-quality diamonds
- In April, a 144-carat diamond was recovered from Lulo, while a 215-carat diamond was recovered from Mothae in February
- Shares in Lucapa last traded at 5.5 cents on May 19
Lucapa Diamond Company (LOM) has placed its shares in a trading halt in regard to a capital raising and material acquisition.
The company will remain in the halt until May 24 or when more details regarding the capital raise and acquisition are released, whichever occurs first.
Lucapa is yet to disclose how much it intends to raise or who it will be acquiring.
The company has two diamond mines in Africa — the Lulo alluvial mine in Angola and the Mothae kimberlite mine in Lesotho — both of which produce high-quality diamonds.
In April, Lucapa and its partners, Empresa Nacional de Diamantes E.P and Rosas & Petalas, recovered a 144-carat Type IIa D-colour diamond from Lulo.
This marked the sixth diamond of more than 100 carats recovered from Lulo this year and the 23rd since exploration and mining began.
Prior to this, Lucapa recovered a 215-carat diamond from Mothae, making this the largest top colour white diamond found at the project.
It was the second 200+ carat diamond and the fifth 100+ carat diamond found at Mothae.
Shares in Lucapa last traded at 5.5 cents on May 19. The company has a $45.82 million market cap.
