Lucapa Diamond has improved its first-half attributable revenue from its 40%-owned Lulo mine in Angola and 70%-owned Mothae mine in Lesotho to A$35.1 million from the previous year’s A$10.3 million.
The company said in a presentation to the Africa Down Under Conference that it sold 18, 784 carats from both mines in the first half of 2021 compared to 9, 653 carats, a year earlier.
The stones were sold at an average price of $1, 437 per carat during the period under consideration from $704 per carat in the first half of 2020.
Lucapa said it recorded a strong half-year attributable cash operating margin of A$13.5 million.
It also said that its calendar year 2021 cash operating margin was estimated at the upper end of between A$17 million and A$21 million.
Lulo will this year produce between 31 000 carats and 33 000 carats of which 12 400 carats to 13 200 carats would be attributable to Lucapa.
Mothae is also expected 40 000 to 42 000 carats this year and between 28 000 and 29 400 carats would be attributable to the ASX-listed company.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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