Lucara Diamond Corp.
Lucara Diamond CorpListed in TSX exhange, Nasdaq OMX Stockholm and Botswana stock exhange.
Ticker: LUC
Lucara diamond Corp. is a new diamond exploration and mining company, operating in Southern Africa Botswana and Lesotho. Lucara is a member of the Lundin group.Its key assets are Karowe mine in Botswana and Mothae project in Lesotho.
Karowe Mine
Karowe is 100% Lucara owned mine. Its located Orapa/Lethakare kimberlite district in Botswana. It has been in production since mid 2012. Mine is open pit, hard rock mine. Its estimated to be open pit to about year 2026 and after that potentially underground. Its products are large high value diamonds. Operating cost is $31-$33 per tonne and production is 400000 - 420000 in 2014.Resources and reserves
From surface to depth of 324m: 32,2mt reserve containing 6,6 million carats.
Indicated resource from surface to a depth of 400m: 51mt containing 8,2 million carats.
Inteferred resource from 400m to 750m: 21mt containing 4 million carats.
Mothae project, Lesotho
Lucara has 75% ownership and government of lesotho has 25%. Its also hard rock and open pit mine site. The project has completed the trial mining stage and at the moment it is put care and maintanence stage while company investigates futher develpment options.Highlights of 2014 third quarter
Revenue $91,3 million and total revenue to September was $195 million.
EBITDA $125,8 million at end of September
Cash $133,1 million
EPS $0,11 for the quarter
Dividend
Company pays annual CA$ 0,02 dividend per share. Special dividend is also paid December CA$0,004.My opinion
Botswana is very stable African country where has been decades of uninterrupted civilian government and it it middle income country, GDP of 13500 per capita. So, the country risk are quite low. Karowe mine's operation cost are low and diamonds are high value. If the diamond prices doesn't collapse company cash flow would be strong. Further Information Lucara diamond siteWalde
Kuva:http://www.freeimages.com
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