In a Press Release dated December 19,2017 Lucapa Diamond Company Limited and its partners ENDIAMA and Rosas & Petalas has announced the next sale of alluvial diamonds from their Lulo Diamond Project in Angola. The Lulo diamonds sale is scheduled for early 2018, the timing of the sale being chosen with a view of maximizing sale proceeds by holding the sales at the beginning of the year, when demand for rough sales is very strong, as manufacturers look to replenish their stocks following the holidays.
The sale parcel due to go up on sale in early 2018, includes a total of 2,160 carats of Lulo production, recovered from Mining Block 6 in November 2017, consisting of two exceptional Type IIa, D-colour diamonds weighing respectively 78 carats and 129 carats.
The Press Release also stated that Lucapa and its Lulo partners will also consider the next loan repayment to Lucapa and cash distribution to the partners following the finalization of the 2017 annual accounts for the Lulo alluvial mining company, Sociedade Mineira Do Lulo, after the conclusion of the above diamond sale in 2018.
