01:33:06 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Lucara Diamond Corp
Symbol LUC
Shares Issued 381,297,748
Close 2016-06-29 C$ 3.35
Market Cap C$ 1,277,347,456
Recent Sedar Documents

Globe says Lucara fails to sell big diamond at auction

2016-06-30 08:12 ET - In the News

The Globe and Mail reports in its Thursday, June 30, edition that Lucara Diamond shed 57 Canadian cents to close in Toronto at $3.35 (Canadian) on Wednesday after the giant gemstone it discovered last year failed to sell at a London auction. The Globe's Ian McGugan writes that the top bid of $61-million (U.S.) fell short of Lucara's minimum selling price for its historic discovery. The 1,109-carat stone is the largest diamond unearthed in more than a century. Lucara stock had doubled in price over the past year as it produced a stream of supersized diamonds from its Karowe mine in Botswana. It named the biggest of its discoveries Lesedi La Rona, which means "our light" in the Tswana language of southern Africa. Sotheby's, the auction house, had predicted that the stone could fetch $70-million (U.S.) when it went up for bids on Wednesday. Instead, bids fell short of Lucara's so-called reserve price -- the lowest price it would accept for the stone -- and the company announced that it would retain its prize find. Lucara decided to go that auction house route because it wanted to see if there were ultrarich buyers who would value the Lesedi La Rona as a one-of-a-kind collectible.

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