Lucapa Diamond ‘s post decent diamond sales

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!

(Kitco News) – Lucapa Diamond Company (LOM:ASK) reported that they sold $US5.6 million ($7.2 million) from this year’s first sale of diamonds from the Mothae kimberlite mine in Lesotho, Africa. The parcel comprises 4676 carats of rough diamonds that were valued at nearly $US1200 ($1548) per carat. This is the highest average $US per carat price achieved by Mothae on the sale of any run of mine production parcel.

Lucapa managing director Stephen Wetherall said “The good recoveries at both mines and growing demand leading to strengthening diamond prices has seen a strong start to 2021,”.

He then added “We look forward to Mothae receiving further value following implementation of the cutting and polishing partnership and to completing the expansion at Mothae this quarter.”.

That share price was slightly subdued on the news. There has been a strong basing formation over the past half a year. With a higher low being formed but the main resistance at 0.083 is still intact. If the investors manage to break the level then there could be a chance that the high on the chart could be tested at 0.150. For now, there has been a fairly decent surge in volume and if that continues with a decent price break higher levels could be on the cards.

View original article here Source