Lucara Diamond Corp. (TSX:LUC) announced that it has recovered a 257-carat diamond from its Botswana-based Karowe mine. The company also closed its sixth rough diamond tender for the year, selling all lots with “very strong results.”
As quoted in the press release:
So far this year, there have been 47 diamonds recovered [from the Karowe mine] that were larger than 50 carats. Of these, 14 were larger than 100 carats. This new 257 carat, beautiful and clear diamond, will be sold on tender in the fourth quarter of 2013.
William Lamb, president and CEO of Lucara, commented:
The Karowe mine continues to outperform with the consistent recovery of large, high value diamonds. The recovery of this magnificent 257 carat diamond, along with the recovery of a significant parcel of larger stones over the past 6 months, strengthens our understanding of the resource at Karowe. Revenues generated from the sale of these diamonds will be used to reduce debt and strengthen Lucara’s balance sheet.