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Seven top-quality fancy Lulo diamonds sold for US$21.4 million

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(Kitco News) - Lucapa Diamond (ASX: LOM) today announced the largest single sale event ever for the Lulo alluvial mine in Angola, with seven diamonds on the tender achieved a total sales price of US$21.4 million (A$28.3 million), representing an average price of US$34,548 (A$45,603)/carat.

The company said that seven large, top-quality and fancy coloured diamonds recovered in 2021 and weighing 620 carats from the Lulo alluvial mine were offered for sale via tender organised by Sodiam in Luanda.

Lucapa added that prices achieved for the Lulo diamonds reflect the strong diamond market post the height of the pandemic in 2020, where rough diamond prices have continued to strengthen on the back of low rough supplies and
returning consumer demand.

According to a press-release, this sale brings total sales for the six months to date to US$38.8 million (A$50.6 million) at an average price of US$3,275 (A$4,272)/ carat, cementing Lulo's position as the highest price alluvial production globally.

Managing Director Stephen Wetherall commented, “The exceptional sale result, which is the largest single sale event ever for Lulo, demonstrates the strong demand for unique, large and high-quality natural diamond productions such as those of Lulo and Mothae."

Lucapa is growing diamond producer with high-value producing mines in Angola (Lulo) and Lesotho (Mothae). The 0.5 million bulk cubic metre per annum Lulo alluvial mine and 1.6 million tonnes per annum Mothae kimberlite mine both produce large and high-value diamonds, with >75% of revenues generated from the recovery of +4.8 carat stones.

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