Lucara Keeps Producing Big Diamonds, Credits Recovery Circuit
Lucara Diamond (TSX:LUC) recovered a 1,758 carat diamond from its Karowe Diamond Mine located in Botswana.
Lucara, which announced the find yesterday, says it is the largest diamond to be mined at Karowe and one of the largest diamonds in recorded history, but the quality of the diamond requires greater analysis.
“The diamond has been characterized as near gem of variable quality, including domains of high-quality white gem,” writes the company in a news release.
Lucara’s CEO, Eira Thomas, credits the company’s recovery circuit.
“Lucara’s technologically advanced, XRT diamond recovery circuit has once again delivered historic results,” says Thomas.
“Karowe has now produced two diamonds greater than 1,000 carats in just four years, affirming the coarse nature of the resource and the likelihood of recovering additional, large, high quality diamonds in the future, particularly as we mine deeper in the orebody and gain access to the geologically favorable EM/PK(S) unit, the source of both of our record breaking, +1,000 carat diamonds.”
Lucara is up seven cents, hitting $1.65 a share over the past five days. Lucara’s 52 week range is $1.38 and $2.39.