Overview of Lucapa Diamond Company's recent tender success

Lucapa Diamond Company Limited (ASX:LOM) has announced the successful sale of four exceptional diamonds from its Lulo Mine, fetching a total of US$17 million (A$26 million) at a tender conducted by Sodiam E.P in Luanda, Angola. The parcel, consisting of 609 carats, achieved an average price of US$28,000 per carat, with the highest price attained by a 208 carat diamond. The CEO and Managing Director, Nick Selby, expressed optimism for improved and stable diamond prices in the coming year, citing the potential resumption of rough diamond imports by India and potential restrictions on Russian diamond flow into the market in 2024.

Executive commentary on the successful tender and market outlook

The outcome of this tender is very encouraging as it once again clearly indicates the strength of the market for these exceptional, rare and high value stones of which Lulo is a consistent producer. This is a positive result for Lucapa in a year when the diamond industry generally suffered weakness in pricing. With India about to resume rough diamond imports and Russian diamonds potentially having a restricted flow into the market in 2024, we are optimistic that we will see improvement and stability in diamond prices across all sectors of the market in the new year.

Summary of Lucapa Diamond Company's recent announcement

Lucapa Diamond Company (ASX:LOM) has achieved a significant milestone with the successful sale of four exceptional diamonds from its Lulo Mine, fetching US$17 million at a tender. The company's CEO and Managing Director, Nick Selby, expressed optimism for improved and stable diamond prices in the coming year, attributing it to potential market developments such as the resumption of rough diamond imports by India and potential restrictions on Russian diamond flow into the market in 2024. Lucapa's strategic position as a consistent producer of high-value stones and its global diamond industry experience position it well for future success in the market.