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    LUC   CA54928Q1081

LUCARA DIAMOND CORPORATION

(LUC)
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Lucara Diamond : Massive uncut diamond unveiled in New York

09/20/2021 | 06:24pm EDT
Rafael Papismedov and Oded Mansori pose with an over 1,000-carat uncut stone by Lucara Diamond during a press availability in New York

PARIS (Reuters) - In a bid to drum up investor appetite for rough, natural diamonds, mining company Lucara Diamond Corp and manufacturer HB Antwerp on Monday unveiled a 1,175-carat diamond in New York City.

The companies are billing the stone as the largest rough diamond to be shown in the United States, and the third-largest to be discovered. Reuters could not independently verify these claims.

HB Antwerp told Reuters it has yet to decide whether the uncut diamond will be cut into polished stones.

The massive diamond was unveiled at the Whitby Hotel in upper midtown Manhattan, kicking off a week of viewings.

The uncut stone was one of three diamonds of over a thousand carats extracted from the Karowe Mine in Botswana in recent years. In 2020, the two companies teamed up with Louis Vuitton to show the Sewelo diamond, also from the Karowe Mine, with each of the three parties taking ownership.

"We've been in the business for many years, for quite some time, and these types of things do get us excited because of the sheer size," Oded Mansori, chief executive officer of HB Antwerp, told Reuters. He held up a hand, curling his fingers as if holding an egg, to demonstrate its size.

The partners aim to throw the spotlight on the natural state of the stone, at a time when lab-grown diamonds are casting themselves as viable commercial alternatives to real diamonds.

The mining company started using x-ray technology in 2015 to help locate and identify diamonds. "We do expect that we will recover more exceptional diamonds in excess of a thousand carats in size - but on a global basis, this is still an extremely rare and unusual event," said Lucara's chief executive, Eira Thomas.

(Reporting by Mimosa Spencer in Paris; Editing by Vanessa O'Connell and Matthew Lewis)

By Mimosa Spencer


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
LUCARA DIAMOND CORPORATION 3.17% 0.65 Delayed Quote.21.15%
LVMH MOËT HENNESSY LOUIS VUITTON SE 1.15% 667.3 Real-time Quote.29.13%
All news about LUCARA DIAMOND CORPORATION
10/20LUCARA DIAMOND : Third Quarter 2021 Results to be Released Wednesday, November 3, 2021
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09/20LUCARA DIAMOND : Massive uncut diamond unveiled in New York
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09/08LUCARA DIAMOND : Greenlights US$524-Million Underground Expansion of Its Karowe Mine in Bo..
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09/08Lucara Announces Final Board Project Sanction for the Karowe Underground Expansion Proj..
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09/08LUCARA DIAMOND : Announces Final Board Project Sanction for the Karowe Underground Expansi..
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09/08Lucara Diamond Corp. Announces That the Board of Directors Has Formally Approved the Ka..
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08/11UPDATE : Lucara Diamond Up 1.4% as Swings to Q2 Loss, Secures Full Funding for Karowe Unde..
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08/11LUCARA DIAMOND : Swings to Q2 Loss, Secures Full Funding for Karowe Underground Expansion
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08/11LUCARA DIAMOND : 2021 Second Quarter Report
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Financials (USD)
Sales 2021 208 M - -
Net income 2021 34,3 M - -
Net Debt 2021 4,60 M - -
P/E ratio 2021 6,10x
Yield 2021 3,78%
Capitalization 231 M 231 M -
EV / Sales 2021 1,13x
EV / Sales 2022 1,09x
Nbr of Employees 324
Free-Float 72,2%
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Technical analysis trends LUCARA DIAMOND CORPORATION
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 0,51 $
Average target price 0,77 $
Spread / Average Target 50,3%
EPS Revisions
Managers and Directors
Eira Margaret Thomas President, Chief Executive Officer & Director
Zara Elizabeth Boldt Chief Financial Officer & Secretary
Lukas Henrik Lundin Chairman
John Armstrong Vice President-Technical Services
Paul K. Conibear Lead Independent Director