Lucara: Exceptional Diamonds Bring Exceptional Revenue
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/22/13 --
(TSX:LUC)(BOTSWANA:LUC)(NASDAQ OMX First North:LUC) Lucara Diamond
Corp. ("Lucara" or the "Company") is very pleased to announce the
results from its first large and exceptional diamond tender. The
special tender of Karowe diamonds was completed on May 22, 2013 and
consisted of 15 single stone lots. All 15 stones were sold for gross
revenues of $24.85 million ($30,468 per carat). The highest value
stone was the 239 carat diamond which sold for $5.75 million with an
additional 4 diamonds selling for more than $2.5 million each.
This special tender of exceptional diamonds is in addition to the
Company's third regular tender which closed on May 14, 2013.
William Lamb, President and CEO, commented:
"We are ecstatic with the results of this special tender and it
confirms the quality of diamonds currently being produced from
Karowe. The recovery of large and exceptional diamonds cannot
accurately be predicted but the recovery of blue diamonds and now a
population of large diamonds are making Karowe a remarkable deposit.
To be in a position to hold a large stone tender within the first
year of production is exceptional, especially when considering that
all the diamonds sold, were recovered from a regular production
Over the past few weeks additional large diamonds have been recovered
and management is currently considering options for holding an
additional large stone tender later in the year."
Modifications to the top size of material that the process plant
treats has already been increased ensuring the continued recovery of
larger than expected diamonds.
Lucara is a well positioned new diamond producer. The Company has an
experienced board and management team with extensive diamond
development and operations expertise. The Company's two key assets
are the Karowe Mine in Botswana and the Mothae Project in Lesotho.
The 100% owned Karowe Mine is in production. The 75% owned Mothae
Project has completed its trial mining program.
On Behalf of the Board,
William Lamb, President and CEO
Lucara's Certified Advisor on NASDAQ OMX First North is Pareto Ohman
Forward Looking Statements
This Press Release contains "forward-looking information" that is
based on Lucara's expectations, estimates and projections as of the
dates as of which those statements were made. This forward-looking
information includes, among other things, statements with respect to
the use of the proceeds of the credit facility. Generally, this
forward-looking information can be identified by the use of
forward-looking terminology such as "outlook", "anticipate",
"project", "target", "believe", "estimate", "expect", "intend",
"should", "scheduled", "will", "plan", "would" and similar
expressions. Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause
Lucara's actual results, level of activity, performance or
achievements to be materially different from those expressed or
implied by such forward-looking information and is developed based on
assumptions about such risks, uncertainties and other factors. A
discussion of factors that may affect Lucara's actual results,
performance, achievements or financial position is contained in the
filings by Lucara with the Canadian provincial securities regulatory
authorities, including Lucara's 2011 annual information form filed on
SEDAR on March 22, 2012.
Forward-looking statements are based on assumptions management
believes to be reasonable, including but not limited to the continued
general market conditions, development of the AK6 project, no
material adverse change in the market price of commodities and that
the costs of development and operation of the AK6 project will be
line with management's expectations. Although Lucara attempted to
identify important factors that could cause actual results to differ
materially from those contained in forward-looking statements, there
may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking
statements will prove to be accurate. Accordingly, readers should not
place undue reliance on forward-looking statements. Lucara disclaims
any intent or obligations to update or revise publicly any
forward-looking statements whether as a result of new information,
estimates or options, future events or results or otherwise, unless
required to do so by law.
Lucara Diamond Corp.
1 (604) 689-7842
Lucara Diamond Corp.
Sweden +46 701-112615
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