World's Second-Largest Diamond Recovered by Lucara Diamond Corp.

Spotlight Companies |

William Lamb, CEO of Lucara Diamond Corp. ($LUC:CA) ($LUCRF) got an urgent call from his COO, Paul Day, in Botswana at 1:29 a.m. Monday morning.

Lamb called him back at 4 a.m.

“Congratulations,” said Day. “You are the CEO of the first company in 100 years to recover a stone over 1,000 carats.”

The company recently announced the recovery of a 1,111 carat gem quality, Type IIa diamond. This type of diamond is almost or entirely devoid of impurities and make up only about one to two percent of all natural diamonds. Lucara’s discovery is the world's second largest gem quality diamond ever recovered, and the largest ever to be recovered through a modern processing facility.

“I am truly at a loss for words,” said Lamb. The fact that it hasn’t happened in 100 years, when it does actually happen to you, it’s a bit of a shock. This has been an amazing week for Lucara with the recovery of thesecond largest, and also the sixth largest gem-quality diamonds ever mined.”

Lucara Diamond Corp. is a new diamond producer with two key assets: the Karowe mine in Botswana and the Mothae project in Lesotho. The company’s latest history making discovery originated from the south lobe of the company’s 100% owned Lucara's Karowe Mine. The largest ever recovered in Botswana, the stone measures 65mm x 56mm x 40mm.

“Our focus on mining the south lobe, which is delivering value beyond expectation, has been perfectly timed with the commissioning of our recent plant modifications, enabling the recovery of these large, high quality exceptional diamonds,” said Lamb.

Following the stone’s unveiling, shares in Lucara went up 32%, adding about $150 million to the value of the company. Furthermore, Lucara recovered two additional white diamonds, an 813 carat stone and a 374 carat stone, from the Karowe Mine within the same week.

These recent milestones for Lucara Diamond are game-changing. Not only has the company strengthened their portfolio, their history making discoveries have placed Lucara front and center on the world stage. "This historic diamond recovery puts Lucara and the Karowe mine amongst a select number of truly exceptional diamond producers,” said Lamb.

For more information about Lucara Diamond Corp, visit www.lucaradiamond.com.

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