Lucara Diamond to host second stone tender in November

Lucara Diamond to host second stone tender in November

The upcoming sale will feature up to 12 diamonds, including this 336-carat Type IIa stone, recently recovered at Karowe mine.

Canada's Lucara Diamond (TSX:LUC) has set the date for its second exceptional stone tender of the year, which will take place in Gaborone, Botswana, from November 2 to11.

The Vancouver-based miner said the sale would feature up to 12 diamonds, including the recently recovered 336-carat Type IIa stone, as well as an 8-carat fancy pink diamond, both from its Karowe mine in Botswana.

Lucara’s President and CEO, William Lamb, said the increase in bottom cut-off value to $1 million for qualifying diamonds for the exceptional stone tenders has resulted in less stones being available for these events, but of higher quality.

Further, Lamb noted that the recovery of coloured stones from the south lobe at Karowe was “very encouraging” as no coloured stones had previously been identified from this lobe.

Since the recovery of the first large diamond from the Karowe mine in 2013, Lucara has found 216 gems, which it has sold for more than $250,000 each. Twelve of those diamonds fetched over $5 million each, according to the company.