Lucapa Diamond Sells Lulo Diamonds for $3.5M Amid Market Recovery

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Lucapa Diamond Sells Lulo Diamonds for $3.5M Amid Market Recovery

Lucapa Diamond Co. Ltd. ( (AU:LOM) ) has provided an update.

Lucapa Diamond Company Limited announced the sale of two Type IIa diamonds from the Lulo Alluvial Mine for a total of US$3.5 million at a tender in Angola. The sale, which averaged US$20,400 per carat, indicates a recovering diamond market, offering a promising outlook for the company in 2025. This positive development is expected to bolster Lucapa’s operations and market positioning, benefiting stakeholders by potentially increasing revenue and enhancing the company’s reputation in the global diamond industry.

More about Lucapa Diamond Co. Ltd.

Lucapa Diamond Company Limited is an ASX-listed diamond miner and explorer with operations in Angola and Australia. The company holds a significant interest in the Lulo Diamond Mine in Angola, known for producing large, high-value alluvial diamonds that command premium prices. Additionally, Lucapa is involved in the Lulo Kimberlite Exploration Joint-Venture and has acquired the Merlin Diamond Project in Australia, enhancing its strategic position in the diamond industry.

YTD Price Performance: 40.0%

Average Trading Volume: 35,870

Technical Sentiment Consensus Rating: Buy

Current Market Cap: €4.01M

For detailed information about LOM stock, go to TipRanks’ Stock Analysis page.

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