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Lucapa Diamond Company (ASX: LOM) - CEO, Stephen Wetherall - The Market Herald
CEO, Stephen Wetherall
Source: LinkedIn
  • Lucapa Diamond Company (LOM) and its partners have recorded a second consecutive monthly record for carats recovered from the Lulo Mine in Angola
  • In August, Lucapa and its partners, Empresa Nacional de Diamantes E.P. and Rosas & Petalas S.A., recovered 3852 carats of diamonds
  • Despite COVID-19 challenges, this is the second consecutive month that a record amount of carats have been uncovered
  • Lucapa is up 4.23 per cent on the market this morning and shares are trading for 7.4 cents each

Lucapa Diamond Company (LOM) and its partners have recorded a second consecutive monthly record for carats recovered from the Lulo Mine in Angola.

The Lulo Mine lies approximately 630 kilometres east of the capital of Luanda and covers an area of 3000 square kilometres.

It has produced 15 +100 carat diamonds and is one of the highest average US$ per carat alluvial diamond producers in the world.

In August, Lucapa and its partners, Empresa Nacional de Diamantes E.P. and Rosas & Petalas S.A., recovered diamond totalling 3852 carats.

Despite COVID-19 challenges, this is the second consecutive month that a record amount of carats have been uncovered.

Mining throughout July and August focused on the MB06 flood plain (Ieziria) where the gravel deposits are largely continuous and contain tick gravel layers.

The largest diamond recovered from this area is a 61 carat white Type IIa diamond.

"It is very encouraging to note that the Ieziria area in MB06 is continuing to deliver the quality and quantity of diamonds that could rival the production from the prolific MB08," Managing Director Stephen Wetherall said.

"This is further evidence of the very special resource that exists at Lulo and why Lucapa and its partners continue to search for the source of these magnificent diamonds," he added.

Lucapa is up 4.23 per cent on the market this morning and shares are trading for 7.4 cents each at 10:30 am AEST.


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