Announcement • Aug 15
Gaston International DMCC entered into a binding term sheet to acquire Lucapa Diamond Company Limited (ASX:LOM). Gaston International DMCC entered into a binding term sheet to acquire Lucapa Diamond Company Limited (ASX:LOM) on August 12, 2025. The transaction is subject to approval by regulatory board / committee, approval of bankruptcy court and approval/consents of lenders/creditors.
DLA Piper LLP acted as legal advisor for Gaston International DMCC. DLA Piper Australia Pty Ltd acted as legal advisor for Gaston International DMCC. Minmetals Securities Co.,Ltd acted as financial advisor for Gaston International DMCC. DLA Piper Africa acted as legal advisor for Gaston International DMCC. Announcement • Apr 15
Lucapa Diamond Company Limited Provides Lulo Alluvial Resource Update Lucapa Diamond Company Limited refers to the announcement released on 10 April 2025 titled "Lulo Alluvial Resource Update increases carats by 9% at modelled value of USD 1,581/ct". The total diluted volume of gravel available for mining in the Lulo Alluvial Resource increased by 15% to 5.8Mm3, maintaining the equivalent of at least eight years of production at Lulo's planned mining and processing capacities. Extensive resource definition work involving 7,197 auger drill holes and 150 pits, including drilling in Mining Blocks 129 and 137 in the south (Maps 1-3);. These data are predominantly based on mining results. No metallurgical recovery factors are applied as the data has been generated using actual production results. Information included in this announcement that relates to exploration results and resource estimates is based on and fairly represents information and supporting documentation prepared and compiled by Richard Price MAusIMM who is a Member of the Australasian Institute of Mining and Metallurgy. Mr. Price has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves. Reporting of diamond exploration results and diamond resource estimates for the Lulo concession. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material., Material is recovered from the auger flights and used to measure depth and thickness of the gravels., The drilling is used to measure gravel thickness only. Core (or costean, channel, etc.) photography., The total length and percentage of the relevant intersections logged., Drilled material is recovered from the auger flight and used to measure depth and thick of the gravels., Sample pits are lithologically logged and measured to determine gravel thickness., Logging is semi-quantitative with edge thicknesses measured of the entire pit. The process is identical to that which would be used for commercial mining and results are considered representative. Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. 6,199 pits have been completed in total during the project. Other data required in the Code is not material and its exclusion does not detract from the understanding of the Resource Report. Bulk sampling and production results were included in the Lulo Diamond Resource estimate. The estimated areal grade in stones per hundred metres squared (sphm2) and average stone size as carats per stone (cts/stn) are determined using all available diamond data within each block These data are predominantly based on Mining results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. Diagrams, Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views., Appropriate maps for the reported mineralisation with scale and north points are included in Maps 1-3., Balanced reporting, Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results., Several blocks have gravel volume estimates based on thickness measurements but have not been included in the Lulo Diamond Resources due to insufficient information related to diamond content., Other substantive exploration data, Other substantive exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances., The data from the auger drilling and pitting programs has allowed the definition of alluvial channels, which has been followed by the Lead Author of the Resource Report and Independent Competent Person were undertaken in January 2015 and August 2018. If a computer assisted estimation method was chosen include a description of computer software and parameters used. If a description of computer software and guidelines include a description of computer software & parameters used. The availability of check estimates, previous estimates, previous estimates and parameters used. The availability of computer software and whether the availability of computer assisted estimation method of computer software and/or mine production records and parameters used. Announcement • Apr 10
Lucapa Diamond Company Limited Announces an Updated JORC Classified Inferred Alluvial Diamond Resource for the Lulo Diamond Concession in Angola Lucapa Diamond Company Limited announced an updated JORC Classified Inferred Alluvial Diamond Resource (Lulo Alluvial Resource) for the Lulo diamond concession in Angola. The Lulo Alluvial Resource has grown to 249,000 carats, representing a 9% increase compared to the prior period (228,400 carats) and the seventh consecutive year in which resource carats have increased. The total diluted volume of gravel available for mining in the Lulo Alluvial Resource increased by 15% to 5.8Mm3, maintaining the equivalent of at least eight years of production at Lulo's planned mining and processing capacities. The updated Lulo Alluvial Resource was estimated after taking into account: Mining depletion to 31 December 2024 by SML mining operations, during which time 25,341 carats of diamonds were recovered; Extensive resource definition work involving 7,197 auger drill holes and 150 pits, including drilling in Mining Blocks 129 and 137 in the south (Map 1); Sales of diamonds during 2024 totaling USD 54.5m at an average diamond price of USD 1,980/carat. Information included in this announcement that relates to exploration results and resource estimates is based on and fairly represents information and supporting documentation prepared and compiled by Richard Price MAusIMM who is a Member of the Australasian Institute of Mining and Metallurgy. Mr. Price is an employee of Lucapa Diamond Company Limited. Mr. Price has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined. in the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves. Subject to any continuing obligations under applicable law and ASX Listing Rules, the Company does not undertake any obligation to update or revise any information. Reporting of diamond exploration results and diamond resource estimates for the Lulo concession. JORC Code (2012) requirements - Sampling Techniques and Data. Material is recovered from the auger flights and used to measure depth and thickness of the gravels. Drilled material is recovered from the auger flight and used to measure depth and thick of the gravels. The process is identical to that which would be used for commercial mining and results are considered representative. Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. 6,199 pits have been completed in total during the project. Other data required in the Code is not material and its exclusion does not detract from the understanding of the Resource Report. Bulk sampling and production results were included in the Lulo Diamond Resource estimate. The estimated areal grade in stones per hundred metres squared (sphm2) and average stone size as carats per stone (cts/stn) are determined using all available diamond data within each block These data are predominantly based on mining results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. Site visits by the Lead Author of the Resource Report and Independent Competent Person were undertaken in January 2015 and August 2018. If a computer assisted estimation method was chosen include a description of computer software and parameters used. The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data. The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available. Re reasonable prospects for eventual growth. Announcement • Mar 28
Lucapa Diamond Company Limited, Annual General Meeting, May 29, 2025 Lucapa Diamond Company Limited, Annual General Meeting, May 29, 2025. New Risk • Mar 01
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (59% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$7.83m market cap, or US$4.86m). New Risk • Feb 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 25% per year over the past 5 years. Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Market cap is less than US$10m (AU$8.29m market cap, or US$5.28m). New Risk • Jan 31
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 60% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 25% per year over the past 5 years. Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Market cap is less than US$10m (AU$8.29m market cap, or US$5.15m). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Announcement • Jan 29
Lucapa Diamond Company Limited has completed a Follow-on Equity Offering in the amount of AUD 2.670504 million. Lucapa Diamond Company Limited has completed a Follow-on Equity Offering in the amount of AUD 2.670504 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 43,518,299
Price\Range: AUD 0.02
Discount Per Security: AUD 0.0012
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 90,006,901
Price\Range: AUD 0.02
Discount Per Security: AUD 0.0012
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Dec 11
Lucapa Diamond Company Limited has filed a Follow-on Equity Offering in the amount of AUD 1.5 million. Lucapa Diamond Company Limited has filed a Follow-on Equity Offering in the amount of AUD 1.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 75,000,000
Price\Range: AUD 0.02
Security Features: Attached Options New Risk • Dec 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 25% per year over the past 5 years. Market cap is less than US$10m (AU$7.54m market cap, or US$4.86m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Announcement • Dec 05
Lucapa Diamond Company Limited has filed a Follow-on Equity Offering in the amount of AUD 2.6685 million. Lucapa Diamond Company Limited has filed a Follow-on Equity Offering in the amount of AUD 2.6685 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 43,500,000
Price\Range: AUD 0.02
Discount Per Security: AUD 0.0012
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 89,925,000
Price\Range: AUD 0.02
Discount Per Security: AUD 0.0012
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Nov 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$6.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.9m free cash flow). Earnings have declined by 25% per year over the past 5 years. Market cap is less than US$10m (AU$12.2m market cap, or US$7.95m). Announcement • Aug 15
Lephema Executive Transport Pty Ltd completed the acquisition of 70% stake in Mothae Diamonds (Pty) Limited from Lucapa Diamond Company Limited (ASX:LOM). Lephema Executive Transport Pty Ltd entered into a conditional binding sales and purchase agreement to acquire 70% stake in Mothae Diamonds (Pty) Limited from Lucapa Diamond Company Limited (ASX:LOM) for AUD 0.01 million on June 25, 2024. Under the Agreement, Lucapa will receive a nominal purchase price of AUD 0.01 million from Lephema Executive Transport Pty Ltd as well as approximately AUD 1 million from Mothae in outstanding technical services payments. Lephema Executive Transport Pty Ltd will assume all liabilities and guarantee obligations relating to Mothae currently held by Lucapa. Following completion, Lucapa will continue to provide technical services to Mothae under the technical services agreement on normal commercial terms for a minimum of three months. Lucapa has received confirmation from the ASX that shareholder approval is not required under ASX Listing Rule 11.1 and 11.2 and as a result, the company will not seek shareholder approval for the transaction. Completion of the divestment is subject to the satisfaction of certain key conditions precedent receipt of consent from the Lesotho Minister of Natural Resources for the Transaction, execution of a Delegation Agreement between Lucapa, the Government and Executive whereby Lucapa assigns and delegates its rights and obligations in the mining agreement to executive confirmation from SAFDICO that the Offtake Agreement between the Mothae and SAFDICO remains valid following completion of the transaction, amendment of the technical services agreement between Lucapa and Mothae to incorporate a three month no fault cancellation provision and subject to satisfaction of the relevant conditions, completion is expected to occur on or before September 30, 2024. Adam Levine and Natasha Augustin of K & L Gates acted as legal advisor to Lucapa Diamond Company Limited.
Lephema Executive Transport Pty Ltd completed the acquisition of 70% stake in Mothae Diamonds (Pty) Limited from Lucapa Diamond Company Limited (ASX:LOM) on August 14, 2024. The transaction has satisfied all the conditions precedent to the Sale and Purchase Agreement. New Risk • Aug 13
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.1m (US$9.95m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$8.0m free cash flow). Market cap is less than US$10m (AU$15.1m market cap, or US$9.95m). Announcement • Jun 27
Lephema Executive Transport Pty Ltd entered into a conditional binding sales and purchase Agreement 70% stake in Mothae Diamonds (Pty) Limited from Lucapa Diamond Company Limited (ASX:LOM) for AUD 0.01 million. Lephema Executive Transport Pty Ltd entered into a conditional binding sales and purchase agreement to acquire 70% stake in Mothae Diamonds (Pty) Limited from Lucapa Diamond Company Limited (ASX:LOM) for AUD 0.01 million on June 25, 2024. Under the Agreement, Lucapa will receive a nominal purchase price of AUD 0.01 million from Lephema Executive Transport Pty Ltd as well as approximately AUD 1 million from Mothae in outstanding technical services payments. Lephema Executive Transport Pty Ltd will assume all liabilities and guarantee obligations relating to Mothae currently held by Lucapa. Following completion, Lucapa will continue to provide technical services to Mothae under the technical services agreement on normal commercial terms for a minimum of three months. Lucapa has received confirmation from the ASX that shareholder approval is not required under ASX Listing Rule 11.1 and 11.2 and as a result, the company will not seek shareholder approval for the transaction. Completion of the divestment is subject to the satisfaction of certain key conditions precedent receipt of consent from the Lesotho Minister of Natural Resources for the Transaction, execution of a Delegation Agreement between Lucapa, the Government and Executive whereby Lucapa assigns and delegates its rights and obligations in the mining agreement to executive confirmation from SAFDICO that the Offtake Agreement between the Mothae and SAFDICO remains valid following completion of the transaction, amendment of the technical services agreement between Lucapa and Mothae to incorporate a three month no fault cancellation provision and subject to satisfaction of the relevant conditions, completion is expected to occur on or before September 30, 2024. Announcement • Mar 29
Lucapa Diamond Company Limited, Annual General Meeting, May 28, 2024 Lucapa Diamond Company Limited, Annual General Meeting, May 28, 2024, at 11:00 W. Australia Standard Time. Reported Earnings • Mar 01
Full year 2023 earnings released: US$0.006 loss per share (vs US$0.007 loss in FY 2022) Full year 2023 results: US$0.006 loss per share (improved from US$0.007 loss in FY 2022). Revenue: US$28.0m (up 20% from FY 2022). Net loss: US$9.05m (loss narrowed 12% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 31
First half 2023 earnings released: EPS: US$0.002 (vs US$0.011 loss in 1H 2022) First half 2023 results: EPS: US$0.002 (up from US$0.011 loss in 1H 2022). Revenue: US$14.4m (up 12% from 1H 2022). Net income: US$3.24m (up US$16.6m from 1H 2022). Profit margin: 22% (up from net loss in 1H 2022). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Aug 11
Non-Executive Director recently bought AU$249k worth of stock On the 7th of August, Ross Stanley bought around 6m shares on-market at roughly AU$0.04 per share. This transaction amounted to 7.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Feb 28
Full year 2022 earnings released: US$0.007 loss per share (vs US$0.004 profit in FY 2021) Full year 2022 results: US$0.007 loss per share (down from US$0.004 profit in FY 2021). Revenue: US$23.4m (down 13% from FY 2021). Net loss: US$10.3m (down 329% from profit in FY 2021). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Announcement • Jan 17
Lucapa Diamond Company Limited Announces 41 Diamonds Recovered from Lulo Kimberlite L164 Bulk Sample Lucapa Diamond Company Limited together with Project Lulo partners, Endiama and Rosas & Petalas, advised that the results from the completed processing of bulk sample KBS/164/01 from Lulo kimberlite L164 have confirmed that it is a primary source hosting Special sized diamonds. Lulo kimberlite bulk sample KBS/164/01, totalling 2,200 in-situ m3 or 5,641 wet tonnes of kimberlite material, has returned a total of 41 diamonds weighing 66.05 carats, including two Special sized diamonds weighing 15.27 and 12.37 carats with 12 diamonds greater than one carat recovered. This yielded an average grade of 3.00 carats per one hundred cubic metres or 1.17 carats per one hundred tonnes and an average stone size of 1.61 carats. The varying size frequency distributions and the differing diamond characteristics from the many alluvial diamond mining blocks continue to provide evidence that there are multiple primary sources contributing to the secondary alluvial resource on the Lulo concession. The methodical approach to the exploration program will continue with the processing of all the kimberlites on the priority list in order to ensure that all large stone bearing kimberlites are identified and taken to the next stage of evaluation. Kimberlite L164 is located south (upstream) of the Canguige Catchment area and was placed on the priority kimberlite bulk sample list due to its indicator mineral content. Announcement • Dec 08
Lucapa Diamond Company Limited Announce Diamond Recoveries from Lulo Kimberlite Bulk Sample Lucapa Diamond Company Limited announced the recovery of diamonds from the initial processing of the Lulo kimberlite L164 bulk sample through the stand-alone kimberlite bulk sample plant. Lulo kimberlite L164 bulk sample has yielded 20 diamonds weighing 15.51 carats from the initial processing of ~630m3 of broken kimberlite material, representing a preliminary grade of ~2.5 cphm3 (carats per one hundred m3). Five diamonds greater than 1 carat have been recovered so far from the ~3.5ha kimberlite the stone weighing 1.95 carats. The average size of the diamonds recovered so far is 0.78 carats/stone, a number of them classified as Type IIa by the Yehuda Colorimeter. While the processing of the kimberlite bulk sample is continuing, these initial diamond recoveries already represent the diamond count and carat weight of diamonds recovered from any kimberlite bulk sample processed at Lulo to date. The processing of the remainder of the ~3,200m3 broken kimberlite bulk sample is continuing and a full reconciliation of processed volumes back to in-situ volumes and tonnes will be undertaken when processing is complete. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. 1 independent director (3 non-independent directors). Independent Non-Executive Chairman Miles Kennedy was the last independent director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Sep 30
Lucapa Diamond Company Limited Announces 30th 100 Plus Carat Diamond Recovered at Lulo Lucapa Diamond Company Limited and its partners, Endiama and Rosas & Petalas announced the recovery of a 113 carat white Type IIa diamond by Sociedade Mineira Do Lulo. The 113 carat stone is the 30th +100 carat diamond ever recovered by Lulo and the 5th +100 carat diamond recovered in 2022. Announcement • Sep 28
Lucapa Diamond Company Limited and Endiama and Rosas & Petalas Announce Kimberlite Bulk Sample Plant Operational Lucapa Diamond Company Limited and its partners Project Lulo Joint Venture (Project Lulo JV), Endiama and Rosas & Petalas, announced the stand-alone kimberlite bulk sample plant ("KBSP") has been fully commissioned and the processing of priority kimberlite bulk samples has commenced. The stand-alone KBSP is commissioned and has commenced processing the 15 kimberlites on the current priority bulk sampling list at Lulo. As previously reported, a number of kimberlite bulk samples have already been extracted during the KBSP construction phase and are on the feed pads awaiting treatment through the KBSP. The kimberlite bulk samples will be processed at a rate of approximately two samples every six weeks. To note, it is not expected that every kimberlite sample processed will return a positive diamond result. On a concession with such a high anomaly to kimberlite conversion rate, confirmed kimberlites will be added to the priority sampling list as concurrent discovery drilling and mineral chemistry analysis continues. Commercial diamond mining: The Lulo partners early alluvial exploration programs recovered a number of large and exceptional diamonds pointing to the potential of the alluvial gravels containing a large high-quality diamond population. Further alluvial exploration programs confirmed this large high-quality diamond potential and following the approval of a preliminary feasibility study by the Angolan Government, Sociedade Mineira Do Lulo ("SML") was constituted, and commercial mining operations commenced. In almost eight years of commercial mining to date, the Lulo concession has frequently produced diamonds of exceptional size and quality, where, it is globally renowned as the highest USD/carat alluvial (secondary source) deposit. Since exploration and mining activities commenced at Lulo, in the Cacuilo River Valley, SML has recovered: >150,000 carats at over ~USD 2,000/carat; 29 +100 carat diamonds; and 1,800 +10.8 carat diamonds at an average value of USD 140,000/Special stone; Concurrently with the commercial alluvial mining, and via a separate venture, the Project Lulo JV, the Lulo partners are exploring for the primary source kimberlite(s). If geologically, the large and irregular shaped diamonds are considered to be proximal to their primary source(s), then the anomalies that lie beneath or near to the alluvial mining blocks where these and other high-value value diamonds are being recovered, need to be explored and evaluated. The exploration and drilling programs completed to date by the partners have identified: 560 geophysical anomalies on the entire concession; 360 geophysical anomalies in the Cacuilo River Valley (south-west section), underneath and upstream of where the large exceptional diamonds are being recovered in SML's alluvial mining campaign; 124 kimberlites discovered from 150 anomalies drilled (>80% conversion rate); 130 samples sent for mineral chemistry analysis; 20 prioritised kimberlites based on exploration results and other considerations, including expert peer review; and Eight kimberlites as diamondiferous from sampling results, proving the Cacuilo River Valley kimberlite province to be diamondiferous. Bulk sampling phase: Given the very high number of kimberlites that, in an anticipated lower grade high-value environment, would need to have large volumes of kimberlite material bulk sampled to assess commercial diamondiferous nature, a stand-alone KBSP was ordered and has now been constructed and commissioned at Lulo. 20 kimberlites have been included on the initial priority kimberlite bulk sampling list for this bulk sampling phase, with five already processed through the alluvial treatment plant. The remaining 15 kimberlites will be processed at a rate of approximately two kimberlite samples every six weeks. To note, it is not expected that every kimberlite sample processed will return a positive diamond result. On a concession with such a high anomaly to kimberlite conversion rate, it is expected that new kimberlite discoveries in priority areas will be added to the priority sampling list as concurrent discovery drilling and mineral chemistry analysis continues. Announcement • Sep 21
Lucapa Diamond Company Limited, Endiama and Rosas & Petalas Announce the Recovery of a 131 Carat White Type IIa Diamond by Sociedade Mineira Do Lulo Lucapa Diamond Company Limited and its partners, Endiama and Rosas & Petalas, announced the recovery of a 131 carat white Type IIa diamond by Sociedade Mineira Do Lulo ("SML"). The 131 carat stone is the 29th +100 carat diamond ever recovered and the 4th +100 carat diamond recovered atLulo in 2022. Reported Earnings • Sep 01
First half 2022 earnings released: US$0.012 loss per share (vs US$0.006 profit in 1H 2021) First half 2022 results: US$0.012 loss per share (down from US$0.006 profit in 1H 2021). Revenue: US$12.9m (down 23% from 1H 2021). Net loss: US$15.0m (down 377% from profit in 1H 2021). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Announcement • Jul 28
Lucapa Diamond Company Limited, Endiama E.P. and Rosas & Petalas, Partner in Sociedade Mineira Do Lulo Announced the Recovery of an Historic 170 Carat Pink Type Iia Diamond from the Lulo Alluvial Mine Lucapa Diamond Company Limited, Endiama E.P. and Rosas & Petalas, partners in Sociedade Mineira Do Lulo announced the recovery of an historic 170 carat pink Type IIa diamond from the Lulo alluvial mine. The 170 carat pink stone is an historic recovery as it is believed to be the largest pink diamond recovered in the last three hundred years. The diamond has been given the name "The Lulo Rose". The Lulo concession boasts the two largest recorded diamonds recovered in Angola, the largest being the 404 carat "4th February Stone". This historical pink diamond is the 5th largest diamond and is the 27th +100 carat recovered to date on the Lulo concession. The diamond will be sold via international tender to be conducted by Sodiam E.P, the Angolan State Diamond Marketing Company. Announcement • Jul 20
Lucapa Diamond Company Limited Identifies Seven New Kimberlite Targets At Merlin Lucapa Diamond Company Limited announced that seven new kimberlite targets have been identified on the Merlin Diamond Project in the Northern Territory ("Merlin") through interpretation of historical De Beers airborne hyperspectral data. As per the ASX announcement on 11 April 2022, in 1997 and prior to mining commencing at Merlin by Ashton and Rio Tinto in 1999, De Beers used its proprietary Airborne Multispectral Scanner technology to fly over an area in the Northern Territory including Merlin (Map 1). Lucapa acquired the hyperspectral data from IGO Ltd. and it is understood that to date it has not been available to or interpreted by previous operators at Merlin. The signatures identified display elevated magnesium rich clay readings, which are commonly associated with kimberlites. The seven selected kimberlite targets lie ~3km to the east of the known Merlin kimberlites. The seven selected targets will be followed up with visual ground inspection, soil samples for spectral analysis and heavy mineral soil samples.The data is being integrated with existing airborne geophysics, ground geophysics, heavy mineral soil sampling and geochemical soil sampling to identify additional kimberlite targets for follow-up. Additional geophysical work is also planned for the large magnetic target ("Leviathan") on the exploration licence in 2022. Announcement • Jun 25
Lucapa Diamond Company Limited Provides A Progress Update on the Kimberlite Exploration Work Program in Angola Lucapa Diamond Company Limited and its partners in the Project Lulo Joint Venture (Project Lulo), Endiama and Rosas & Petalas, are pleased to provide a progress update on the kimberlite exploration work program in Angola, which has been boosted by the addition of two new high-priority kimberlites for bulk sampling. The latest phase of discovery drilling has identified 24 new kimberlites, bringing the total number of kimberlites discovered at Project Lulo to 133. Samples from eight of the 24 recently discovered kimberlites have already been sent to South Africa for indicator mineral picking which will undergo mineral chemistry analysis in Canada. Of particular interest, are indicator minerals picked from two of the eight kimberlite samples (L056 and L403) containing numerous high-interest deep purple garnets and chrome diopsides, often associated with diamondiferous kimberlites. As a result, they have been added to the list of high-priority kimberlites for bulk sampling. The mineral chemistry results will determine if additional kimberlites are added to the priority bulk sampling list in the coming months. Construction of the Kimberlite Bulk Sampling Plant (KBSP) is advanced, notwithstanding logistics challenges and commissioning is expected during July 2022. The location of the KBSP has been positioned close to the majority of the key priority kimberlites to reduce sample turnaround time and costs. New trucks have also been mobilised to assist with the ramp up of the kimberlite exploration activities. Two of the five high-priority kimberlites already bulk sampled, are diamondiferous. Out of the remaining 15 priority kimberlites to be sampled, the next six to be processed are: L403: Within the Canguige Catchment area. This target has recently been elevated due to its abundant deep purple garnets, chrome diopsides and large olivines; L029: Within the Canguige Catchment area. Excavation of this sample has been completed; L032: Within the Canguige Catchment area. One of the larger bodies proximal to the site of the alluvial sample taken in the Canguige River. Overburden on this kimberlite has been removed; L164: South (upstream) of the Canguige Catchment area. Chosen due to its high indicator mineral counts, including G4D garnets and other high interest mineral populations; L056: Confluence of Cacuilo River and Canguige River. Located upstream of Mining Block 46, where a significant number of high-value diamonds have been recovered during mining activities, including numerous +100 carat and fancy coloured gemstones. Chosen due to its deep purple garnet and chrome diopside content, key indicator minerals of diamondiferous kimberlite; and L014: Underlies the Cacuilo River, upstream of Mining Block 8. Chosen due to its high- interest G4D garnets and proximity. Mining Block 8 has been one of the most prolific high-value mining blocks, where the record 404 carat diamond and a number of other +100 carat diamonds were recovered during mining activities. Announcement • Jun 22
Lucapa Diamond Company Limited Announces the Renewal of Its Exploration Licence for the 100% Lucapa Owned Orapa Area F Project in Botswana Lucapa Diamond Company Limited announced the renewal of its exploration licence for the 100% Lucapa owned Orapa Area F Project in Botswana. The exploration licence has been approved for a further two years commencing 1 July 2022, expiring 30 June 2024. Lucapa will commence the planning of the next phase of exploration to confirm whether the geophysical targets identified at Orapa are kimberlites. Announcement • May 19
Lucapa Diamond Company Limited Announces the Recovery of A 204 Carat Diamond from the Mothae Mine in Lesotho Lucapa Diamond Company Limited announced the recovery of a 204 carat diamond from the Mothae mine in Lesotho. The 204 carat white stone is the eighth +100 carat diamond and third +200 carat to be recovered from the Mothae mine since commercial mining commenced in January 2019, underlining its unique large stone nature. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (3 non-independent directors). Independent Non-Executive Chairman Miles Kennedy was the last independent director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Mar 28
Lucapa Diamond Company Limited and Its Partners in Sociedade Mineira Do Lulo, Empresa Nacional De Diamantes E.P. and Rosas & Petalas, Provide an Updated JORC Classified Inferred Alluvial Diamond Resource for the Lulo Diamond Concession in Angola Lucapa Diamond Company Limited and its partners in Sociedade Mineira Do Lulo, Empresa Nacional de Diamantes E.P. and Rosas & Petalas, provided an updated JORC Classified Inferred Alluvial Diamond Resource for the Lulo diamond concession in Angola. The updated Lulo Diamond Resource was independently estimated and reconciled on a depletion and addition basis to 31 December 2021 by external consultants, Z Star Mineral Resource Consultants (Pty) Ltd. of Cape Town, South Africa. After accounting for mining depletion of 24,595 carats during 2021 calendar year, the alluvial exploration activities undertaken during the year increased the Lulo Diamond Resource in-situ carats by 11% to ~151,000 carats. Notwithstanding the increase in mining capacities over the last seven years by SML, this is the 4th consecutive year in which the resource carats have increased. Diamond valuations have been significantly affected by the steep recovery in the diamond market during 2021 and early 2022. The modelled diamond value model has been escalated using a global rough diamond price index provided by GTD Consultants, an independent diamond valuation consultancy, up to 31st December 2021. Since 2020, the modelled diamond values have increased by ~34% from USD 1,440/carat to USD 1,930/carat on average. To date, ~137,000 carats of diamonds have been recovered on the Lulo concession and sold by SML for ~USD 276 million, at an average price of ~USD 2,000/carat. The total diluted volume of gravel available for mining in the updated Lulo Diamond Resource increased to 2.2Mm3. This equates to a minimum of four years of resource at SML's expanded mining and processing capacities. Reported Earnings • Mar 01
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$0.004 (up from US$0.016 loss in FY 2020). Revenue: US$26.8m (up 481% from FY 2020). Net income: US$4.50m (up US$14.2m from FY 2020). Profit margin: 17% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Dec 17
Lucapa Diamond Company Limited Present the Range of Outcomes of the Scoping Study Lucapa Diamond Company Limited present the range of outcomes of the scoping study ("Scoping Study") completed for its 100% owned Merlin Diamond Project in the Northern Territory of Australia. The Scoping Study is a preliminary technical and economic study of the viability of Merlin, which demonstrates positive economics and strong potential for a long-life mine development, using conventional open pit and vertical pit mining techniques. In May 2021, Lucapa executed binding agreements to acquire 100% of the historic Merlin Diamond Project in the Northern Territory of Australia. As per the ASX announcement on 13 December 2021, the formal acquisition process has been completed and Lucapa has, through its wholly owned subsidiary, Australian Natural Diamonds Pty Ltd, acquired 100% of Merlin. The acquisition of Merlin is a transformative strategic investment that is highly complementary to Lucapa's existing asset portfolio. Merlin adds a near-term mine development opportunity on a 4.4 million carat JORC (2012) compliant Mineral Resource and significant exploration upside or blue-sky potential. Merlin provides Lucapa with the opportunity to develop its third producing mine and build what Lucapa expects will be the larger commercial diamond mine in Australia, elevating Lucapa into a mid-tier diamond producer. A preliminary technical and economic Scoping Study of the viability of Merlin through an open pit and vertical pit mine ("VPM") development has been conducted by Lucapa and is outlined herein and the Summary Report. Reported Earnings • Sep 15
First half 2021 earnings released: EPS US$0.006 (vs US$0.018 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: US$16.8m (up 304% from 1H 2020). Net income: US$5.42m (up US$14.9m from 1H 2020). Profit margin: 32% (up from net loss in 1H 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Announcement • Jun 16
Lucapa Diamond Company Limited has completed a Follow-on Equity Offering in the amount of AUD 1.654 million. Lucapa Diamond Company Limited has completed a Follow-on Equity Offering in the amount of AUD 1.654 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 33,080,000
Price\Range: AUD 0.05
Discount Per Security: AUD 0.001 Announcement • May 24
Lucapa Diamond Company Limited Provides Production Guidance for the Current Year 2021 Lucapa Diamond Company Limited provided production guidance for the current year 2021. For the current year 2021 year (on an attributable basis), Lucapa is expecting to produce between 40,400 - 42,600 carats (compared to 18,890 carats in CY2020). The increased production is due to both mining operations being in full production for the remainder of the year at their expanded capacities, whilst in current year 2020 Mothae was placed in care and maintenance for 6 months and Lulo operated at a reduced capacity due to COVID restrictions. Announcement • May 15
Lucapa Diamond Company Limited Announces Recovery of the 24th +100 Carat Diamond by Sociedade Mineira Do Lulo from the Lulo Alluvial Diamond Mine in Angola Lucapa Diamond Company Limited and its partners Empresa Nacional de Diamantes E.P. ("Endiama") and Rosas & Petalas announced the recovery of the 24th +100 carat diamond by Sociedade Mineira Do Lulo ("SML") from the Lulo alluvial diamond mine in Angola. The 138 carat diamond was recovered from Mining Block 46 ("MB46"), is the seventh +100 carat diamond recovered in 2021 so far and 24th +100 carat stone recovered at Lulo since exploration and mining operations began. LUCAPA: Lucapa is a niche diamond producer with high-value mines in Angola (Lulo) and Lesotho (Mothae). The 0.5 million bulk cubic metre per annum Lulo alluvial mine and 1.6 million tonnes per annum ("Mtpa") Mothae kimberlite mine both produce large and high-value diamonds, with >75% of revenues generated from the recovery of +4.8 carat stones. The Lulo mine has been mining commercially since 2015 and has produced over twenty +100 carat diamonds to date, including a 404 carat D-colour Type IIa stone, and is one of the highest average dollar per carat alluvial diamond producers in the world. Lucapa and its Project Lulo JV partners have also achieved highly encouraging results from their search to discover the primary hard-rock source of the high-value Lulo alluvial diamonds. The Mothae mine in diamond-rich Lesotho commenced commercial mining in 2019 and has produced five +100 carat diamonds to date, including a 213 carat D-colour Type IIa stone. Lucapa has funded a ~45% expansion in the processing capacity of the Mothae mine, which when ramped up in early second quarter of 2021 will see capacity grow from 1.1 Mtpa to 1.6 Mtpa. Lucapa's Board, management team and strategic investors have decades of diamond industry experience across the globe and right through the diamond pipeline, particularly in extracting value from large and high-quality diamonds. Announcement • Feb 28
Lucapa Diamond Company Limited, Empresa Nacional de Diamantes E.P. and Rosas & Petalas Announces the recovery of the 19th +100 carat Diamond from Lulo Alluvial Diamond Mine in Angola Lucapa Diamond Company Limited and its partners Empresa Nacional de Diamantes E.P. ("Endiama") and Rosas & Petalas announced the recovery of the 19th +100 carat diamond by Sociedade Mineira Do Lulo ("SML") from the Lulo alluvial diamond mine in Angola. The 114 carat Type IIa D-colour white diamond is the third +100 carat diamond recovered from Mining Block 46 ("MB46") in the last eight weeks. The frequency of recovery of these high-value +100 carat stones from MB46, highlights the prospectivity of the Canguige catchment and adjacent priority kimberlites (Figure 1). To date, MB46 has averaged one +100 carat diamond recovered for every ~33,000 bcm's of gravel processed. This is the best occurrence rate for any block mined to date at Lulo, including the prolific MB08. Preparations are underway to continue bulk sampling the priority kimberlites as the wet season draws to a close. Announcement • Feb 24
Lucapa Diamond Company Limited and Government of the Kingdom of Lesotho Announce Recovery of 215 Carat Diamond at Mothae Kimberlite Mine in Lesotho Lucapa Diamond Company Limited ("Lucapa" or "the Company") and its partner, the Government of the Kingdom of Lesotho ("GoL") announced the recovery of a 215 carat diamond from the Mothae kimberlite mine in Lesotho ("Mothae"). The 215 carat stone is the largest Type IIa D-colour white diamond, the second +200 carat diamond and the fifth +100 carat diamond recovered through the 1.1Mtpa Mothae plant since commercial diamond mining operations commenced in 2019. This 215 carat diamond follows the recovery of an exceptional 101 carat diamond in December 2020. Lucapa and the GoL aim to further increase the frequency in recovery of these large and valuable diamonds, and this objective is the primary rationale for Lucapa's additional foreign direct investment that will see diamond production increase at Mothae by the end of first quarter of 2021. In addition, the implementation of the new marketing channel, whereby Mothae will now benefit from a significant share of the margins beyond the mine gate, will see Mothae benefit to a much greater extent from its niche production. Announcement • Jan 29
Lucapa Diamond Company Limited and Government of the Kingdom of Lesotho Announces Recommencement of Mining Operations at the Mothae Kimberlite Mine Lucapa Diamond Company Limited and its partner the Government of the Kingdom of Lesotho announced the recommencement of mining operations at the Mothae kimberlite mine ("Mothae"). As per the 13 January 2021 ASX announcement, mining operations at Mothae were suspended as a result of a 14 day nationwide lockdown initiated by the GoL to curb the surge in COVID-19 cases. Following the conclusion of this initial 14 day period, mining and treatment operations have recommenced. Announcement • Jan 19
Lucapa Diamond Company Limited Announces the Recovery of 18th +100 Carat Diamond Lucapa Diamond Company Limited and its partners Empresa Nacional de Diamantes E.P. (Endiama) and Rosas & Petalas announced the recovery of the 18th +100 carat white diamond by Sociedade Mineria Do Lulo (SML) from its Lulo alluvial mine in Angola. The recovery of this second +100 carat diamond from Mining Block 46 ("MB46"), a 104 carat D-colour white stone, so soon after the 113 carat D-colour white stone, indicates the potential for these blocks as move deeper into the southern terraces. In addition, the proximity of MB46 to the high priority kimberlites in the Canguige catchment further reinforces their prospectivity. Announcement • Jan 13
Lucapa Diamond Company Limited Suspends Mining Operations At Mothae Kimberlite Mine Lucapa Diamond Company Limited announced that due to a surge in COVID-19 cases the Lesotho Government has imposed a 14-day nation-wide lockdown commencing 13 January, 2021. A decision has been taken to temporarily suspend mining operations at the Mothae kimberlite mine with appropriate care and maintenance, and security measures. Mining and processing operations will be restarted when the lockdown ends. Announcement • Jan 04
Lucapa Diamond Company Limited Announces the Recovery of 113 Carat Diamond Lucapa Diamond Company Limited and its partners Empresa Nacional de Diamantes E.P. ("Endiama") and Rosas & Petalas announced the recovery of the 17th +100 carat white diamond by Sociedade Mineria Do Lulo ("SML") from its Lulo alluvial mine in Angola. The 113 carat gem-quality white stone is the 1st +100ct diamond recovered from Mining Block 46, immediately downstream of the Canguige river. It is particularly significant, as it shows that these large and high-value diamonds continue to occur right up to the current focus area of kimberlite exploration program. This recovery builds on the performance of Lulo in the latter half of 2020 and bodes well for the coming months as mining focuses on the southern terrace mining blocks during the wet season. Announcement • Dec 03
Lucapa Diamond Company Limited and Its Lulo Partners Announces Result of Cutting & Polishing the 46 Carat Pink Coloured Rough Diamond Recovered by Sociedade Mineira Do Lulo At the Lulo Diamond Project in Angola Lucapa Diamond Company Limited and its Lulo partners, Empresa Nacional de Diamantes E.P. announced the result of cutting & polishing the 46 carat pink coloured rough diamond recovered by Sociedade Mineira Do Lulo ("SML") at the Lulo Diamond Project in Angola. As per the ASX announcement 24 March 2020, the gem-quality 46 carat pink rough diamond was sold by SML into a cutting & polishing partnership with SML's preferred buyer, Safdico International Limited. Under the partnership agreement, SML retained a share in the margin to be generated from the sale of the resultant polished diamonds. The Lulo partners are pleased to advise the results delivered from cutting & polishing the 46 carat diamond. The rough diamond delivered 3 polished diamonds - a 15.2 carat Heart and two Pear shaped diamonds weighing 3.3 carats and 2.3 carats. The Lulo partners advised the results delivered from cutting & polishing the 46 carat diamond. The rough diamond delivered 3 polished diamonds - a 15.2 carat Heart and two Pear shaped diamonds weighing 3.3 carats and 2.3 carats. The main delivery, a 15.2 carat Heart shaped diamond was graded by the Gemmological Institute of America ("GIA") as Fancy Intense Orangy Pink, with a clarity grade of VVS1 and Excellent gradings for both polish and symmetry. Announcement • Nov 06
Lucapa Diamond Company Limited announced that it expects to receive AUD 10 million in funding from Ilwella Pty Ltd and other investors Lucapa Diamond Company Limited (ASX:LOM) announced a private placement of 181,818,182 fully paid new ordinary shares at a price of AUD 0.055 per share for gross proceeds of AUD 10,000,000 on November 6, 2020. The company has received firm commitments from professional and sophisticated investors for the transaction. The transaction will include participation from Ilwella Pty Ltd for 2,712,727 shares and 10,754,545 Options. The company will also issue 54,824,075 free attaching unlisted $0.08 options, expiring 2 years from the date of issue. The transaction was oversubscribed. The transaction is subject to shareholder approval at a general meeting to be convened in December 2020. Announcement • Oct 08
Lucapa Diamond Company Limited Announces the Re-Commencement of Scaled Mining Operations At the Mothae Kimberlite Diamond Mine in Lesotho Lucapa Diamond Company Limited announced the re-commencement of scaled mining operations at the Mothae kimberlite diamond mine in Lesotho (Mothae). Mothae has remained on care and maintenance since lockdown and isolation measures forced the suspension of operations in late March 2020 to prevent the spread of COVID-19. Mothae has now resumed mining and treatment operations in compliance with advised health measures to ensure the safety of Mothae s employees and contractors. Mining operations will be scaled to approximately 75% of nameplate capacity due to COVID-19 protocols in place. Announcement • Sep 09
Lucapa Diamond Company Limited Announces Restart Plan to Recommence Diamond Mining Operations At the Mothae Diamond Mine Lucapa Diamond Company Limited and its partner, the Government of the Kingdom of Lesotho announced that a restart plan to recommence diamond mining operations at the Mothae diamond mine and a new diamond marketing channel have been approved. The Mothae mine has remained on care and maintenance since lockdown and isolation measures forced the suspension of operations in late March 2020. The GoL, Lucapa and the Mothae Board of Directors have approved a mine restart plan which will, with the appropriate health and safety protocols implemented, see the mine return to operations in fourth quarter 2020.