Lucapa Diamond Company's Divestment Decision

Lucapa Diamond Company Limited (ASX: $LOM) has announced its intention to divest its 70% stake in the Mothae Diamond Mine following a review of the asset portfolio. The company is in discussions with the Government of the Kingdom of Lesotho, the 30% partner in the mine, and is finalizing a data room for interested parties. Mothae Mine, located in the diamond-rich Maluti Mountains of the Kingdom of Lesotho, has been known for producing large, high-value diamonds since it began commercial operations in 2019. The company's Chairman, Stuart Brown, emphasized the need to streamline the portfolio to focus on core assets in Africa and Australia, expressing confidence in significant interest from within the diamond industry and beyond.

Executive Commentary on Divestment Decision

On review, it is clear the Company should streamline the portfolio to focus on our core assets in Africa and Australia. The Company's collaboration with the Lesotho Government on the Mothae Diamond Mine has been rewarding and our management have worked exceptionally well to optimize the plant to recover large diamonds. We expect there will be significant interest from those within the diamond industry and on a wider scale.

Summary of Lucapa's Divestment Decision

Lucapa Diamond Company (ASX: $LOM) has decided to divest its 70% stake in the Mothae Diamond Mine as part of its strategy to streamline the portfolio and focus on core assets in Africa and Australia. The company is in discussions with the Government of the Kingdom of Lesotho, the 30% partner in the mine, and is finalizing a data room for interested parties. The Mothae Mine, known for producing large, high-value diamonds, has been a rewarding collaboration with the Lesotho Government. Lucapa's Chairman, Stuart Brown, expressed confidence in significant interest from within the diamond industry and on a wider scale. The company intends to prioritize the divestment process and will provide further updates to the market in the coming weeks.