Lucapa Diamonds is planning to raise A$5.25 million to advance the search for the primary kimberlite sources of the high-value Lulo alluvial diamonds, in Angola. The kimberlite exploration programme has since resulted in the recovery of 45 diamonds in the Canguige tributary sample, including Dcolour and Type IIa gems.
Lucapa said it will also use the funds raised to preserve mining assets suspended as a result of the COVID-19 pandemic and for general working capital purposes.
Lulo alluvial mining activities have been reduced to essential operations and a care and maintenance programme is being implemented at Mothae in Lesotho.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
