Lucapa Diamond’s Lulo Resource Grows by 9% in Carats

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

Lucapa Diamond Company Limited announced an updated JORC Classified Inferred Alluvial Diamond Resource for its Lulo diamond concession in Angola, marking a 9% increase in carats to 249,000. This update, which represents the seventh consecutive year of resource growth, also includes a 15% increase in the diluted volume of gravel available for mining, ensuring at least eight years of production capacity. The average modelled diamond value stands at US$1,581 per carat, highlighting the continued high value of Lulo’s diamond output.

More about Lucapa Diamond Co. Ltd.

Lucapa Diamond Company Limited is an ASX-listed diamond miner and explorer with operations in Angola and Australia. It holds a significant interest in the Lulo Diamond Mine in Angola, known for producing large, high-value alluvial diamonds. Lucapa is also involved in the Lulo Kimberlite Exploration Joint-Venture and owns the Merlin Diamond Project in Australia. The company has extensive experience across the diamond industry value chain.

YTD Price Performance: 40.0%

Average Trading Volume: 20,000

Technical Sentiment Signal: Buy

Current Market Cap: €3.57M

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