Chief executive William Lamb qualified the results as positive, given the current market conditions that have dragged rough diamond prices down. He attributed the outcome to a combination of the timing of production and quantity of large diamonds unearthed so far this year.
Lucara kicked off 2024 with the recovery of a 166-carat Type IIa diamond, which was followed by a 320-carat top light brown gem quality stone and a 111-carat one.
The Vancouver-based company inked in February a new sales deal with polishing and trading company HB Antwerp from Karowe. The parties had cut ties in September, following what Lucara called “material breach of financial commitments” by HB.
The new 10-year agreement covers all qualifying diamonds found at Karowe larger than 10.8 carats, the company said.
Work on the underground expansion project at the iconic mine also progressed well during the quarter, Lucara said, with production from the…
