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Lucara Sells Its 813 Carat Diamond for US$63 Million

Scorpio

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May 09, 2016 - 02:00 AM ET
Lucara Sells Its 813 Carat Diamond for US$63 Million, the Highest Price Ever Achieved for the Sale of a Rough Diamond
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 9, 2016) - (TSX:LUC)(BOTSWANA:LUC)(NASDAQ OMX Stockholm:LUC), Lucara Diamond Corp. ("Lucara" or the "Company"), is pleased to announce that the exceptional 812.77 carat, Type IIa diamond recovered from the Karowe mine in Botswana in November 2015 (see news release dated November 19, 2015), has been sold for US$63,111,111 (US$77,649 per carat). As part of the sale, Lucara has partnered with Nemesis International DMCC, and retains a 10% interest in the net profit received from the sale of the resultant polished diamonds.

The 813 carat diamond has been named, "The Constellation", in collaboration with our partner.

William Lamb, President and CEO, commented, "We are very pleased with the result from the sale of this magnificent 813 carat diamond as well as the opportunity to further participate in profits earned when the polished product is sold. The sale of the 813 carat diamond is the highest price ever achieved for a rough diamond, breaking all records. This achievement solidifies our reputation in the jewelry industry as one of the most important sources of diamonds of the very highest quality. We look forward to the next stage of Lucara's development with the sale of the spectacular 1,109 carat, Lesedi La Rona diamond which will take place at Sotheby's London on June 29, 2016."

On behalf of the Board,

William Lamb

President and CEO

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About Lucara

Lucara is a well-positioned diamond producer. The Company has an experienced board and management team with extensive diamond development and operations expertise. The Company's main producing asset is the 100% owned Karowe Mine in Botswana. The Company also conducts exploration activities and holds two precious stone prospecting licenses close to its Karowe mine.

The information in this release is accurate at the time of distribution but may be superseded or qualified by subsequent news releases.

The information in this release is subject to the disclosure requirements of Lucara Diamond Corp. under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was publicly communicated on May 9, 2016 at 2:00 a.m. Eastern Time.

http://lucaradiamond.mwnewsroom.com...est-price-ever-ach-tsx-luc-201605091053887001
 

Irons

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#2
There is a sucker born every minute.


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Scorpio

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#3
hey Irons,

they even gave it a cool name...............

gotta love snake oil salesman

the values of diamonds are only present in industrial type applications, drilling, sawing, etc. IMO
 

Irons

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hey Irons,

they even gave it a cool name...............

gotta love snake oil salesman

the values of diamonds are only present in industrial type applications, drilling, sawing, etc. IMO
Unless you know somebody who needs one, a diamond ring is worth the scrap value of the Gold holding it.
I have found 26 diamond rings to date and only sold one of them for well over scrap and that was a 5 diamond engagement ring set in platinum. I was happy to get 1/5 of retail for it.
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<SLV>

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#5
Even as far as "investments" go, there has to be a better place to park $63M than diamonds. Farm land, commercial real estate, collectible cars, fine art, etc. The best idea is an income generating asset.
 

Goldhedge

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#7
Diamond Girl

diamond girl.png



diamond.png
 

Irons

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I kept these 2 diamond rings, one for me and one for Mrs Irons. Somebody spent thousands for them I would be lucky to get a few hundred.
Feck it they are pretty might as well keep 'em. :2 thumbs up:

cring2RS - Copy.jpg
rs7.jpg