Lucara's 2012 Karowe diamond sales total $54 million

Tuesday, Dec 18, 2012

Lucara Diamond Corp. (TSX:LUC)(BOTSWANA:LUC)(NASDAQ OMX First North:LUC) is pleased to report results of its final diamond sale for 2012. The sale of Karowe diamonds was completed on December 17, 2012. A total of 62 lots were put up for sale containing 62,238 carats of diamonds of which 56 lots were sold achieving an average price of $273 per carat and yielding gross proceeds of $12.03 million. Six parcels containing 18,233 carats were withheld due to low levels of competitive bidding. The sales lots withheld contained diamonds in the finer size fractions.

Mr. William Lamb, CEO of Lucara noted, "This final sale of 2012 has Lucara ending the year on a solid note with total diamond revenues from Karowe totalling more than $54 million dollars and the mine exceeding the mid-year forecast of 230,000 carats available for sale. We are looking forward to a solid 2013 with consistent production and the achievement of our 2013 sales guidance of 400,000 carats."

Source: Marketwire