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Lucara sale of exceptional rough nets $40M

July 18, 2014

Vancouver, British Columbia--Mining company Lucara Diamond Corp. generated more than $40 million at its recent tender of high-quality rough diamonds from the Karowe mine, which consisted of 16 single-stone lots.

Of the 16 diamonds totaling 1,445 carats, 13 sold for more than $1 million each, including four that sold for more than $4 million each. 

Highlighting the sale, which took place Wednesday, was a 118.4-carat diamond that garnered $5.4 million, and a 109.4-carat diamond that realized $6.2 million.

“The incredible Karowe diamonds continue to yield spectacular results and the recovery of these exceptional stones also continues,” said Lucara President and CEO William Lamb.

Lucara said is planning another stone tender for the early fourth quarter of 2014, and potentially will include 239- and 193-carat diamonds that were recovered from the mine during the second quarter.

Based in Vancouver, Lucara owns 100 percent of the Karowe mine.