Lulo Resource Estimate Nearly Doubles

RAPAPORT... Diamond resources at Lucapa Diamond Company's Lulo alluvial mine in Lesotho are90% higher than it originally estimated, according to an independent valuation. Lulo has 80,400 carats remaining in the mine, according to a December 2018 study by external consulting company Z Star Mineral ResourceConsultants. That figure was reevaluated from a previous Lulo resource estimation conducted inMay 2017, which listed the mine's total contents at 42,200 carats. Z Star also updated the average price for Lulo rough to $1,420 per carat, a 17% improvement versus the previous estimate of $1,215per carat. "The near doubling of in-situ resource carats in theupgraded Lulo diamond resource supports the Lulo partners' plans to increasealluvial production in 2019," Lucapa CEO Stephen Wetherall said. Image: Diamonds from the Lulo mine. (Lucapa)