Lucara Discovers 257-Carat Diamond

Lucara Diamond Corp. recorede a 257-carat diamond from the Karowe diamond mine in Botswana.
The company has recovered 47 diamonds larger than 50 carats, of which 14 exceeded 100 carats, so far this year.
The latest discovery will be sold at tender in the fourth quarter of 2013.
"The Karowe mine continues to outperform with the consistent recovery of large, high value diamonds,” said William Lamb, president and CEO of Lucara.
“The recovery of this magnificent 257-carat diamond, along with the recovery of a significant parcel of larger stones over the past six months, strengthens our understanding of the resource at Karowe.
"Revenues generated from the sale of these diamonds will be used to reduce debt and strengthen Lucara's balance sheet,” he commented.
Lucara also said that all the lots at its sixth rough diamond tender of this year had been sold with strong results. “With the challenges currently facing the rough diamond market, the demand for the high-quality goods produced by Karowe has remained consistently high,” said Lamb.