Lucara Diamond Corp has reported that its revenue for the second quarter of 2015 was US$ 38.1 mn and its total revenue the first six months of the year was US$ 67.8 million of 2015. Year to date revenue has reached US$ 138.1 mn following the exceptional stone tender in July.

As already reported, the July tender achieved revenues of $68.7 million from the sale of 1,674 carats.  The two largest diamonds, totalling 610 carats, sold for a total of $37.1 million or $60,639 per carat. 

The company said it was pleased to have achieved strong operational results and stated that the average price of US$ 340 per ct achieved during H1 was 6.9% higher than the average per carat price achieved during the year 2014. Including the exceptional stone tender revenues, year to date diamond sales have achieved an average price of $662 per carat which is 2.8% higher than the full year 2014.

Following its July exceptional stone tender, the company currently has a cash and receivable position of $130.2 million.

William Lamb, President and Chief Executive Officer commented “We are pleased to have achieved strong operational results and cash flows during the year, highlighted by our exceptional stone tender which the market continues to recognize as offering very high quality diamonds.  The Company is currently in a very strong financial position despite what has been a more difficult period for the diamond industry.”

He added that the plant optimization project at Karowe has been completed on schedule and within budget.  “The large diamond recovery is performing extremely well as evidenced by the recovery of large stones that contributed to the last exceptional stone tender.   We are now working on optimizing the recovery of our smaller, lower value diamonds,” Lamb said.

Lucara was awarded two precious stone prospecting licenses located within a distance of 15 km and 30 km from the Karowe Diamond mine in 2014.  It also entered into an understanding to purchase Mothae Diamond Project, Lesotho from Paragon Diamonds. The sale has just been approved by the government. The sale agreement will lapse if it is not completed before September 15.