14 November 2023
Lucara Diamond Corp praised its sparkling third quarter results saying they put it in a good mood for underground mining prospects.
The diamond miner’s results to the end of September 2023 were ahead by 14% to US $56.9 million or P775 million, like -on-like.
The move was also aided by the low operating costs, which were slow at US $28.62 per ton as opposed to the average of US $32.5- to US $35.50. The chief executive officer and President of Lucara Diamond Corp William Lamb commented in a statement:
“The third quarter results for the company were very good when considering market dynamics and the current state of the diamond sector.”
The Canadian outfit which owns Karowe Mine – about 15 km outside Letlhakane village – said it managed to process 98,311 carats of rough diamonds.
The junior miner is aiming to extend the life-span of its asset to 2040 by going underground from 2028. It said it will make a cash injection of US $20.3 million towards prospecting that will lead to underground mining.
Source: https://www.sundaystandard.info/lucara-to-spend-us-20-3-million-on-prospecting/
