Lucara Diamond: 57% revenue increase in Q3 results
Lucara Diamond Corp has today reported a 57% increase in revenues to US$72.7m in Q3 results ending September 30, 2021, following a strong production performance in the period. This resulted in an average price per carat sold of $619.
Eira Thomas, President & CEO commented:
“Strong production, including a high volume of Specials (diamonds >10.8 carats in size), combined with our innovative and optimized approach to sales of rough and polished diamonds into a strengthening market for diamond jewellery, has delivered a 57% increase in revenues quarter over quarter. The Company also formally sanctioned the underground expansion project, following the arrangement of full project financing, which will support operations at Karowe at current production rates until at least 2040. These developments have significantly de-risked Lucara’s outlook on growth and has positioned the Company to benefit from a stronger, more stabilized diamond price environment as global rough diamond supply remains constrained.”
In the TV clip below, Lucara’s CEO Eira Thomas explains the business, including the deal with Louis Vuitton and tells us more about Clara, Lucara’s wholly owned digital sales platform