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Lucara Diamond ( (TSE:LUC) ) has shared an update.
Lucara Diamond Corp. has upsized its previously announced non-brokered equity financing to raise gross proceeds of $165 million through the issuance of 1,031,250,000 common shares at $0.16 each, following strong investor demand. The additional capital is intended to significantly bolster funding for the Karowe Underground Project, covering key 2026 development milestones such as shaft equipping, conveyance commissioning, and lateral and drill horizon development, while also supporting general working capital. Participation of the Lundin Family Trusts—through Nemesia S.a.r.l., already Lucara’s largest shareholder—is expected to reach up to $70 million, constituting a related-party transaction that the company plans to complete under financial hardship exemptions, subject to TSX and other regulatory approvals anticipated by late January.
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-listed diamond mining company and a leading independent producer of large, exceptional quality Type IIa diamonds from its 100%-owned Karowe Diamond Mine in Botswana, which has been in production since 2012 and remains the company’s principal asset and development focus.
Average Trading Volume: 224,029
Technical Sentiment Signal: Sell
Current Market Cap: C$95.72M
For a thorough assessment of LUC stock, go to TipRanks’ Stock Analysis page.