Lucara Diamond Corp. has released its corporate presentation for May 2025, highlighting key developments and financial outcomes for the first quarter of 2025. The company reported the sale of 72,871 carats, generating revenue of $30.3 million, and revised its 2025 revenue guidance to between $150-160 million. Significant progress was made in the lateral development shaft connection with $19.2 million spent on the Underground Project $(UGP)$ development. Additionally, 0.4Mt of ore was mined, despite the impact of high rainfall in January 2025, and 0.7Mt of ore was processed. The operating margin stood at 54%, with an operating cost of $23.41 per tonne processed, reflecting a 10% decrease compared to Q1 2024. A notable recovery included a 1,476 carat non-gem diamond sold for $1.1 million. The Karowe Underground Project aims to potentially extend mine life beyond 2040, with capital expenditures and commitments continuing into 2025. You can access the full presentation through the link below.
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