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Lucara Diamond ( (TSE:LUC) ) has shared an update.
Lucara Diamond Corp. has launched a non-brokered private placement of at least 437.5 million common shares at C$0.16 per share, targeting minimum gross proceeds of C$70 million to help fund the Karowe Underground Project in Botswana and bolster working capital. The Lundin Family Trusts, through their vehicle Nemesia S.a.r.l., intend to subscribe for up to the full amount in order to maintain or increase their stake, making the financing a related-party transaction that Lucara plans to complete under financial-hardship exemptions, while it also explores complementary debt options, including a potential bond issue advised by Clarksons Securities and Pareto Securities, to fully finance the underground expansion and support the company’s long-term production profile.
The most recent analyst rating on (TSE:LUC) stock is a Hold with a C$0.20 price target. To see the full list of analyst forecasts on Lucara Diamond stock, see the TSE:LUC Stock Forecast page.
Spark’s Take on TSE:LUC Stock
According to Spark, TipRanks’ AI Analyst, TSE:LUC is a Outperform.
Lucara Diamond’s overall stock score is driven by its strong valuation, indicating potential upside due to a low P/E ratio. Financial performance is solid, with strong profitability and low leverage, though cash flow challenges need addressing. Technical analysis suggests short-term bullish momentum, but caution is advised due to overbought signals.
To see Spark’s full report on TSE:LUC stock, click here.
More about Lucara Diamond
Lucara Diamond Corp. is a Canadian diamond mining company listed in Toronto, Stockholm and on Nasdaq First North Premier Growth Market, best known for its Karowe mine in Botswana and focused on the exploration, mining and sale of rough diamonds, including large and high-value stones for the global market.
Average Trading Volume: 173,890
Technical Sentiment Signal: Sell
Current Market Cap: C$93.44M
See more data about LUC stock on TipRanks’ Stock Analysis page.