Lucapa recovers 15th +100 carat diamond

Slowed very early in the Quarter 2

As a result of the Covid-19!

Lucapa Diamond Company Limited presents its activities report and results for the Quarter 2, ending 30 June 2020. Lucapa’s operational of the Quarter include, 1: Delineation drilling at Lulo kimberlite L071 completed and bulk sampling commenced, 2: Delineation drilling at Lulo kimberlite L072 commenced, 3: SML commenced staged ramping of alluvial diamond production back to full capacity.

4: 15th +100 carat diamond recovered by SML, 5: Lulo higher-grade alluvial deposit identified at Mining Block 06, 6: Completion of two diamond sales by SML and Mothae, realising US$4.0m (A$6.1m) at an average of US$546 (A$833)/ carat & 7: Successful rights issue completed by Lucapa raising A$5.2m (before costs).

SML’s operations were slowed very early in the Quarter to essential operations as a result of the Covid-19 pandemic, but due to the easing of certain restrictions during the Quarter, SML was able to bring production back to ~50% capacity in May 2020. SML has since commenced a staged ramp up back to full production capacity.

Due to the Covid-19 restrictions impacting on the health & safety and movement of personnel as well as critical mine supplies, operations were suspended at the Mothae kimberlite mine in March 2020. Lucapa and Mothae have been investigating a number of options to re-start the Mothae mine. The Company will update the market on the conclusion of this work stream and looks forward to recommencing operations as pandemic and market constraints allow.