Lucapa Diamond reported that in the first half of 2016, which ended June 30, she managed to make a profit after tax of $ 3 253 843. A year earlier, in the same period, the company recorded a loss of $ 1.75 million.
The Company and its partners a joint venture focused on the Angolan diamond mining and exploration operations in the framework of Lulo (Lulo).
This project required continuous evaluation, exploration and financing as long as the diamond mining did not start bringing revenue to sustain operations.
Lucapa and its partners continue to develop an exploration program at the Lulo kimberlite in order to detect the primary source or sources of large alluvial diamonds of high value.
"To date, partners have to Lulo identified about 300 kimberlite targets on the two provinces in the Lulo concession of which about 100 were classified as proved or probable kimberlite Thus five tubes of the presence of diamond was confirmed after removing the macro and microdiamonds." - say in the company.
Lucapa reported that the area around the mountain blocks 8 and 6 remains a priority kimberlite exploration program with the help of gravity and electromagnetic geophysical surveys conducted on the L259 in the first half of the year. These studies have successfully identified kimberlite body at a rate of 78 - 108 hectares, which corresponds to the subsurface expression of the kimberlite pipe or its crater.
At the same time, Lucapa are and its partners have achieved a record production of diamonds in Lulo 5668 carats during the first half of the year, which is 105% higher compared to 2765 carats produced the previous year.
"Hit a record level of production was achieved through a 145-percent increase in the processing of alluvial gravels in the enterprise with capacity of 150 tons per hour, and the total rock volume was 73 961 bulk cubic meters," - continued Lucapa.
The average diamond size also increased from 0.9 carats to 1.3 carats, the company concluded.
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