Want to wear a pith helmet and own a diamond mine in Africa
Want to wear a pith helmet and own a diamond mine in Africa? Lucapa Diamonds (ASX:LOM) can provide all of the above, except the pith helmet. The stock was up 54% on Friday and 21% today. The excitement is due to confirming a kimberlitic pipe in Angola as containing diamonds. Lucapa has been recovering large gem grade alluvial diamonds. Lucapa has already sold two parcels of diamonds this year for a combined A$6m. These diamonds were from alluvial deposits however the latest diamonds to be found could be the primary source of the alluvials. Lucapa has just been granted an exploration licence extension for two years and has applied for an alluvial mining licence. Angola is currently the 4th largest producer of diamonds, and large diamond companies, Alrosa and DeBeers have publicly stated they would like to increase their Angolan exposure. See the company website for more information (VIEW LINK)
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