Next Investors logo grey

Diamonds are Lucapa’s best friend – up 30% on find

|

Published 28-SEP-2015 12:22 P.M.

|

1 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

Shares in Lucapa Diamond Company (ASX:LOM) have hiked more than 30% in early trade as it announced more large diamond finds at its Lulo project in Angola.

It told the market this morning that so-called ‘large special diamonds’ had been found during a pitting program at the prolific Block 8 at the project – including a 90.32 carat gem.

That particular find was the largest found by LOM since alluvial mining started at the project in January this year.

Finds of 56.62 carats, 36.61 carats, 29.94 carats, 18.71 carats, and two 11 carat diamonds were also recorded.

The finds were on the same block where a 131.40 carat diamond was found during preliminary bulk sampling back in 2012.

The recent finds now make a grand total of 31 special diamonds from the block since mining started in August.

LOM is currently conducting pitting programs aimed at extending the Mining Block 8 alluvial diamond field.

The current finds have investors excited this morning, sending its share up by over 30% for the day.

LOM is currently sitting at 45.5c, up over 26%.

About LOM

LOM is the operator of the 3,000km2 Lulo Diamond Concession in Angola’s Lunda Norte diamond heartland.

Lulo is located within 150km of Catoca, the world’s fourth biggest kimberlite diamond mine, and on the same favourable geological trend (Lucapa Graben).

Lucapa and its partners commenced alluvial diamond mining operations at Lulo in January 2015. The Lulo alluvial diamonds sold to date have achieved average sale prices of A$1668 per carat.

Lulo also hosts 296 kimberlite targets in two separate provinces, of which 96 have already been classified as proven and probable kimberlites and four confirmed as diamond-bearing pipes.



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.