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Resource up, grades down at Lulo

Lucapa Diamond Company (AU:LOM) has increased the resource and therefore shored up the mine-life expectation at its Lulo alluvial operation in Angola, but has disappointed the market with a fall in anticipated average grade.

Chris Cann
A diamond recovered from the Lulo alluvial operations, which look good for at least another four years

A diamond recovered from the Lulo alluvial operations, which look good for at least another four years

The updated JORC inferred resource came in at 660,000 bulk cubic metres (bcm) – a 10% volume increase – grading 7.95 carats per hundred cubic metres. The numbers support a plus 4-year alluvial mine life...

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