Lucara Diamond has lined up two new directors at it embarks upon the next stage in its development, namely the planned expansion of mine underground.
Image credit: Lucara Diamond
The two new directors, David Dicaire and Peter O'Callaghan, will stand for election at the company’s annual general and special meeting set for early May, according to company chief executive Eira Thomas.
Dicaire previously served as vice-president of Lundin Gold, while O'Callaghan is one of Canada's leading specialist M&A mining lawyers.
They are expected to replace two long-serving directors, Brian Edgar and Richard Clark, who are retiring from Lucara's board of directors.
"Rick Clark and Brian Edgar have served as directors of Lucara for 10 and 13 years respectively, providing valuable guidance and support as the company successfully transitioned from an explorer/developer into one of the worlds' highest margin diamond producers,” said Thomas.
Lucara accrued revenues of $192.5 million from diamonds sold at its Karowe mine, in Botswana during fiscal year 2019 compared with $176.2 million, a year earlier.
This was above the company’s revenue target of between $170 million and $180 million for the fiscal year.
The company produced 433,060 carats in 2019, including 29,990 carats recovered from previously milled material.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
