Lucapa Diamond Company

Lucapa Diamond Company owns 40% of an alluvial diamond mine called Lulo in Angola and 70% of a relatively new kimberlite mine called Mothae in Lesotho. Both have been performing well for their owners. Lucapa is set to benefit from the expected upcoming diamond shortage, a result of few new mines having been developed in recent years. Lucapa frequently enjoys strong sales from large-carat diamonds. For example, in June 2021 seven Lulo diamonds sold for A$28.3m in a tender. Lucapa is currently searching for the kimberlite source of the Lulo alluvials and we believe that can potentially lead to some serious shareholder value creation.

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