Wednesday, May 31, 2017

Specific dimensions of the diamond

Sociedade Mineira Do Lulo (SML), 40% owned by Lucapa Diamond, reported a 54 percent drop in revenue from diamond sales to $ 10.7 million in the first quarter of 2017, versus $ 23.1 million a year earlier.
In the reporting period, the company sold 4,498 carats for $ 10.7 million. Meanwhile, in the first quarter of 2016 sales amounted to 1,931 carats for $ 23.1 million.
The decline compared with the previous year due to the fact that in the first quarter of 2016 the company managed to obtain and implement a diamond weighing 404 carats for $ 16 million.
The Lucapa reported that SML diamond stocks at the end of the quarter amounted to 2545 against 1346 carats carats a year earlier.
Meanwhile, in Lucapa noted that the production of SML in the first quarter increased by 33% and amounted to 4098 against 3087 carats carats in the same period a year earlier.
Index special diamond production increased by 58% to 38, which, in the opinion of Lucapa, even more confirms the possibility of a regular production of large and valuable diamonds in Lulo project (Lulo).
Among the specific dimensions of the diamond - the second largest diamond produced from Angola 227 carats relating to color IIa type D, as well as other large stones weighing 92, 62 and 65 carats.

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