Lucapa Unearths Mothae’s “Best” Diamond Yet

Mothae has proven lucrative for the company since starting commercial production at the beginning of the year.

Africa-focused diamond miner Lucapa Diamond (ASX:LOM) has discovered a 64 carat stone it is calling the “best quality” diamond mined to date at its Mothae mine in Lesotho.

The 64 carat type IIa gem received a D color rating, meaning it is devoid of color and extremely rare.

In late May, Lucapa recovered a 126 carat diamond from the same mine. That is the largest gem the miner has found at the Lesotho-based project, which is a joint venture between Lucapa (70 percent) and the Lesotho government (30 percent).

Mothae has been lucrative since entering commercial production at the start of the year.

“The recovery of this exceptional 64 carat gem also represents a great start to our mining campaign in the higher margin zones in the southern pit at Mothae,” CEO Stephen Wetherall said in a statement.

The company began dewatering the southern pit at Mothae during Q2 in an effort to access the higher-margin diamond zones where the 64 carat diamond was unearthed.

While Mothae has only been in production since January, the asset has already produced 13,267 carats to date — that is 20 percent more than initially forecast.

Of that amount, 229 stones weighed in at 4.8 carats or more.

Since pre-production bulk sampling began at Mothae in 2018, six stones weighing 50 carats or more have been recovered.

Lucapa credits the early success at Mothae to the new 1.1 million tonne per annum plant erected at the site. The plant has allowed for increased recovery, and the company has also experienced “higher than planned” recovery grades from weathered material.

During the first half of the year, Lucapa brought two parcels of Mothae diamonds to market. During the most recent tender, the miner’s parcel of 7,008 carats of rough diamonds sold for US$3.5 million.

Together, the two tenders netted Lucapa US$7.3 million in total sale proceeds, representing an average price of US$588 per carat for the entire run-of-mine production.

The company plans to bring Mothae gems to three diamond tenders during the second half of 2019.

Lucapa shares remained steady on Tuesday (August 6), trading at AU$0.155.

Image courtesy of Lucapa Diamond.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

Graphite Metallurgical Test Work Update


  • Bulk sample of Springdale graphite concentrate estimated to be completed in Q2 2021.
  • Concentrate material will then be sent to Germany to test its amenability for the production of battery anode material suitable for use in EVs.
  • Final test results expected in Q3 2021.

Comet Resources Ltd (ASX:CRL) is pleased provide an update on ongoing test work on natural flake graphite from its Springdale Graphite Project (Springdale) located in Western Australia. Both excellent grade and recoveries were achieved on initial tests, leading to commencement of work to produce a bulk sample for further testing. Importantly, the graphite concentrates previously produced demonstrated a unique and potentially very valuable characteristic in its small size distribution, with two-thirds of the product passing the 38 µm size fraction screen. Generally, this small size fraction of graphite is a by-product of processing of larger flake fractions, which produces smaller size graphite, but in doing so also damages the smaller flake material in the process, reducing their performance and value. Deposits that contain high quality ultra-fine graphite are uncommon and are potentially suitable for supplying the expanding battery anode market, which continues to grow as the sales of electric vehicles (EVs) increase. Graphite suitable for battery anode production also achieves premium pricing in graphite markets, making it a highly sought-after product.

Keep reading... Show less

Medallion Completes Diagnostic Testing with Australian Nuclear Science and Technology Organization

Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) “Medallion” or the “Company”) announces completion of a suite of diagnostic test work at the Australian Nuclear Science and Technology Organization (ANSTO) in Sydney, to extract rare earth elements (REE) from mineral sand monazite. The monazite was sourced from an Australian mineral sand mine. Discussion is ongoing with additional prospective suppliers.

Mineral sand monazite is an abundant REE-rich feedstock, that can be accessed as a by-product from global mineral-sand mines that target zirconium and titanium, without the need for additional mining. Medallion’s business model is centered on the Medallion Monazite Process , a transferable and scalable technology designed to accept multiple mineral-sand monazite feedstocks and extract high-value REEs with high efficiency, high recovery and zero liquid waste.

Keep reading... Show less

Galaxy Resources Limited Announcement

Galaxy Resources Limited (ASX: GXY) ( Company ) advises that the following announcements have been made to the Australian Securities Exchange which appears on the Company’s platform (ASX):

  • Corporate Presentation – Sal de Vida Development Plan
  • Sal de Vida development Plan
  • Sal de Vida Resource & Reserve Update
  • March 2021 Quarterly Results Conference Call
  • Notice of Annual General Meeting/ Proxy Form
  • 2020 Annual Report
  • 2020 Sustainability Report
  • 2020 Corporate Governance Statement
  • Appendix 4G

The announcement can be viewed at:

Keep reading... Show less

Torian Resources Limited Significant Gold Results from Surface at Mt Stirling

Perth, Australia (ABN Newswire) – Torian Resources Ltd (ASX:TNR) is pleased to advise that recent drilling results continue to extend the Mt Stirling Gold System over ~1.1km of Strike, ~300m at depth, and it remains open in multiple directions.


– The interpreted strike of the Mt Stirling gold system exceeds 1.160km with Mt Stirling Main Zone; Hanging Wall and Viserion lodes all remaining open along strike and down-dip.

Keep reading... Show less

eMetals Limited Updates Shareholders On Exploration – April 12, 2021

eMetals Limited (ASX:EMT) (eMetals or Company) is pleased to update shareholders on exploration activities which have commenced across the Company’s projects.


Keep reading... Show less

Top News

Related News