Lucara Diamond Corp. earned revenues of US$ 295.5 million for the full year 2016, up over 32% as compared to revenues of US$ 223.8 million earned in 2015. The per carat price realised in 2016 was also much higher at US$ 824 perct than that realised in the previous year which stood at US$ 593 per ct.

The Company’s EBITDA for 2016, which amounted to US$ 185.4 million also compared well with EBITDA of 2015, which stood at US$ 133.9 million.

However, Lucara’s net income for 2016 at US$ 70.7 million fell by over 9% compared to the previous year’s net income of US$ 77.8 million.

The Company declared earnings per share for the year of $0.19 (2015: $0.21 earnings per share). Full year dividends of CA$ 0.51 were paid per share or CA$ 194.7 million (US$ 149.7 million in dividends). “As previously announced, the Company is increasing its regular annual dividend to CA$ 0.10 per share expected to be paid in four equal payments on a quarterly basis in 2017,” the Company said.

William Lamb, President and Chief Executive Officer commented:  "The Company achieved record sales in 2016.”

He added:  “Our capital projects for enhanced diamond recovery are on target to be completed in 2017, ensuring maximum diamond recoveries from the high value south lobe. We also remain excited with our work on resource expansion at the Karowe mine through our deep drilling program and our advanced exploration program in Botswana."