Lulo Alluvial Resource increased by 15%: 2Q report

 

Resources of 5.8mn, equivalent of at least eight years of production  

Lucapa Diamond Company Limited announce its Quarterly Activities Report for the quarter ended 30 June 2025 (the Q2). In relation to Lucapa’s 40% interest in Sociedade Mineira Do Lulo, Lda, Lucapa advise; 1: In Q2, 9,325 carats were recovered as mining continued in the high grade leziria (floodplain) areas during the start of the dry season. This has resulted in a 104% increase in carats compared with Q2 2024.

2: During the Quarter, 7,124 carats were sold through a tender and two run-of-mine sales, generating revenue of US$16.5 million at an average price per carat of US$2,323. Combined with the strong start to the year, revenue is 8% up year to date, when compared to this time last year.  

Lulo Alluvial Resource – Angola, as announced to the ASX on 10th April 2025 the Lulo Alluvial Resource has been updated and shows that due to the exploration work carried out during 2024 and despite the depletion from mining the resource has grown to 249,000 carats.  

This represents a 9% increase compared to the prior period (228,400 carats) and is the 7th consecutive year in which resource carats have increased. The total diluted volume of gravel available for mining in the Lulo Alluvial Resource increased by 15% to 5.8Mm, maintaining the equivalent of at least eight years of production at Lulo’s planned mining and processing capacities.  

While, Lulo Kimberlite Exploration – Angola conducted sample treatment continued during the quarter with operations improving as the wet season ended. Five samples were able to be processed from L130, L345 (2 samples), L027 and L062, during the Quarter, with one diamond recovered from sample KBS/345/02.