Lucara Diamond Corp. reported revenues of US$ 38.1 million for Q3 2016 as against revenues of US$ 90.9 million in Q3 2015. “Revenue in Q3 is lower than the prior year as revenue reported in Q3 2015 included two sales including an exceptional stone tender compared to a single regular tender during the current quarter,” the Company explained.

The average per carat price realised in Q3 2016 stood at US$ 332 per carat.

Lucara’s year-to-date revenues stand at US$ 229.4 million or US$ 850 per carat (corresponding period of 2015: US$ 158.6 million or US$ 560 per carat).

“The Company reported a net loss of US$ 3.8 million during Q3 (Q3 2015: net income of US$ 44.2 million),” the Company stated. “YTD net income was US$ 59.5 million (YTD 2015: net income of US$ 58.9 million).”

Lucara’s EPS for Q3 2016 amounted to a loss of US$ 0.01 per share (Q3 2015: $0.12 earnings per share); while YTD EPS stood at  $0.16 per share (YTD Q3 2015: $0.15 earnings  per share).

“Dividends of CA$ 0.465 per share or CA$ 177 million (US$137 million in dividends) were paid in Q3,” the Company reported.

William Lamb, President and Chief Executive of the Company Officer commented: "Lucara is committed to rewarding our shareholders with our dividend policy, having paid a total of US$ 185 million since we started to pay dividends in 2014. These payments now exceed the total amount of shareholder equity ever raised by the Company. We are pleased with our Q3 and year to date revenue and now look forward to the fourth quarter with high quality production for our second exceptional tender of the year and a further regular tender in December. Cost discipline during Q3 remained strong and we continued to advance our capital projects for large diamond recovery as well as our exploration and drilling programs to expand our resource base."

The Company announced that Paul Day, its Chief Operating Officer has left the Company effective November 8, 2016.