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sold at tender for a total of $US21.4 mil- Taking majority ownership would allow
lion, at an average of $US35,548/ct – Lucapa to dictate the speed of execution
highlighted the rebound in demand from on the kimberlite exploration but Wether-
the height of the pandemic. all is wary of disrupting the strong part-
“The exceptional sale result, which nership the company has developed at
is the largest single sale event ever for Lulo.
Lulo, demonstrates the strong demand “The industry is always calling for con-
for unique, large and high-quality natural sistency from government in honouring
diamond production,” he said. agreements but it works both ways; gov-
Lulo’s alluvial operations have proven ernment wants consistency from us as
valuable for Lucapa but the main prize well,” he said.
remains identifying the kimberlite source “The Government is keen to see our
of the diamonds. The company restarted partnership work because it sees it un-
exploration in the June quarter with new locking additional investment in the An-
equipment due to site in the September golan mining sector. We want to assist
quarter. the Government in its strategy of driving
“We’ve started bulk sampling again but foreign investment in mining.”
haven’t put anything through the plant This 213ct diamond is typical of the large In the meantime, Lucapa can look to
yet,” Wetherall said. “We are bringing in stones being recovered from Mothae. In expansion on all three projects, a rarity
an additional satellite plant for the alluvial the June quarter, a 87ct D-Colour Type IIa during its 15-year existence.
operation and a bulk sampling crushing diamond was also recovered “The strategy hasn’t changed but we
plant will come up with it. It should be op- are now in a position we’ve never been
erational by the end of September.” in before,” Wetherall said. “We have two
Lucapa currently holds a 39% interest sider it a hurdle. good producing assets with a strong op-
in the kimberlite project but continues to “There is a market perception but in re- portunity to move into production in Aus-
discuss increasing its control with En- ality, if we end up owning 39% of a truly tralia within two years. Plus, we are well
diama and Rosas & Petalas. Wetherall fantastic discovery, what difference does funded.”
doesn’t see the current ownership struc- it make?” Wetherall asked. “But we do – Dominic Piper
ture as an impediment to development continue to deliver 51% ownership and
but acknowledges some investors con- those talks are advanced.”

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