GJ Town India

The long-term ND prices outlook remains resilient!!   In a report Lucara Diamond shared their view on Diamond Market. Lucara said, the long-term natural diamond (ND) prices outlook remains resilient due to favourable supply and demand dynamics due to decreasing production volumes from major operating mines.   However, the smaller size stones market remains soft as demand is impacted by a weak Asian market and the increasing uptake of laboratory-grown diamonds. Demand for stones larger than 10.8 carats remains robust, as reflected in the Company's sales in the plus 10.8 carats category.   The G7 sanctions on Russian diamonds over one carat, effective March 2024, caused some trade delays with import times returning to normal during the quarter. The Company views the sanctions as short-term support for diamond prices, as the emphasis on stone provenance increases. Lucara, with its established operations producing exceptional Botswana diamonds, stands to benefit f...

Consolidated average realised price increased by 4% ytd   Operational Performance: Rough diamond production decreased by 25% to 5.6 million carats, reflecting a production response to the prolonged period of lower demand, higher than normal levels of inventory in the midstream and a continued focus on managing working capital.   In Botswana, production decreased by 32% to 4.0 million carats, as actions to lower production at Jwaneng were delivered. Production in Namibia decreased by 14% to 0.5 million carats, reflecting intentional action to lower production at Debmarine Namibia, partially offset by planned higher grade mining and better recoveries at Namdeb.   In South Africa, production increased by 41% to 0.5 million carats, as Venetia underground ramps up.  Production in Canada decreased by 11% to 0.6 million carats due to the planned treatment of lower grade ore. Trading Performance: Trading conditions during the quarter continued to be challenging in light of h...

Rough diamond price rock over by 40%   Lucapa Diamond Company Limited presented its unaudited financial results for the year ended 31 December 2021. During the period, record operational performances from both SML and Mothae diamond mine with record volumes processed, carats recovered & sold and exceptional diamond recoveries. Lulo exploration sampling includes the discovery of 13 diamonds from the Canguige catchment area, including eight Type IIa diamonds, three new high-interest targets identified at Brooking, WA and successful completion of a A$21.7 million capital raising to fund the 100% acquisition of Merlin diamond mine, expedite exploration programs, advance feasibility studies and general working capital. The completion of the acquisition of Merlin for a total consideration of A$8.5 million and release of Scoping Study showing strong economics for a long-life mine. Lucapa Diamond published the Merlin Scoping Study demonstrating strong economics for a long-life mine:...