A significant number of exceptional and large diamonds recovered from its mines have boosted overall revenues of Lucara Diamond Corp during the first nine months of 2014, with revenues from this product segment contributing $136 million of the total revenue of $195 million.

During the third quarter, company achieved revenue of $91.3 million, which included $24.8 million of proceeds from its June tender. Actual revenue from tenders in this quarter was $ 66.5 million.

Per carat realisations for the nine-month period rose to $634 which translated into an 81% operating margin of $511 per carat. The Company's EBITDA at the end of September was $125.8 million compared to the previous year of $70.2 million.

The third exceptional stone tender in October realised proceeds of $46.4 million or $30,129 per carat.  As reported earlier, this was on account of the sale of some very large stones.

During the third quarter, a total of 126 special stones (+10.8 carats) were recovered at an average size of 30.71 carats. The frequency is lower compared to the previous quarter as the Company processed a larger volume of ore from the North lobe during the period, which has a known finer diamond size distribution and historically has produced a lower number of special stones, the company reported.

There are plans for holding a further two diamond tenders during the fourth quarter of the year with a total of approximately 100,000 carats being put on sale.

William Lamb, President and CEO said that the strong revenues and focus on cost control have led to strong operating cash flows. “We are re-investing in the business to secure future revenues through our plant optimization and large diamond recovery project and the commencement of exploration programs on two precious stone prospecting licenses in the Orapa region in Botswana.”