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Lucara's December Diamond Tender Exceeds Expectations
Lucara's December Diamond Tender Exceeds Expectations Canada NewsWire VANCOUVER,...
About this update from Lucara Diamond Corp.
[{"type":"text","content":"\n\n\n\nLucara's December Diamond Tender Exceeds Expectations\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Dec. 18, 2019\n\n\n\nVANCOUVER, Dec. 18, 2019 /CNW/ - (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm) \nPlease view PDF version of News Release.\nLucara Diamond Corp. (\"Lucara\" or the \"Company\") is pleased to report that its final diamond tender of 2019, held on December 12th, generated sales proceeds of US$52.9 million, 16% higher than expected, and achieved an average price of US$548 per carat.  Market pricing improvements were noted in all size classes.  The December tender puts Lucara's 2019 revenue at $192.5 million exceeding the 2019 revenue guidance of $170 - $180 million. \n2019 SALES HIGHLIGHTS\nTotal proceeds of US$192.5 million (including Clara) Average price of US$468 per carat 30 diamonds sold for > $1 million eachClara has also continued to make excellent progress in 2019, completing 16 sales and growing its customer base well beyond expectations from 4 to 27 clients.  Further, demand in recent sales has now outstripped available supply and the platform is ready to receive a larger quantity of third-party goods to support its next phase of growth.  Trials with at least two other providers are anticipated beginning in early 2020.  Clara is achieving strong prices for Karowe diamonds and generating attractive margins for its customers, confirming that significant value can be unlocked by selling rough diamonds in a more efficient way, using technology and based on specific demand for individual polished products.\nThe positive results of the Karowe Underground Feasibility Study announced on November 4, 2019 have been  summarized in a Technical Report, prepared pursuant to the guidelines of National Instrument 43-101, and filed on SEDAR (www.sedar.com) December 17, 2019.  The report is also available on Lucara's website (PDF). A budget of up to US$53 million has been approved for early works related to the proposed underground mine at Karowe.  An investment...