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Earlier, Nick Selby, CEO of Lucapa Diamonds, spoke to Paydirt Media about the company's current operating conditions and plans to accumulate as much cash as possible in the coming year to continue diamond mining operations.
*Derived from Lucapa
Last October, Lucapa** sold seven extra-large diamonds, totaling 535 carats, valued at $24.5 million, with an average of $29,401 carats.
Nick Selby told Paydirt Media that the overall weakness in the diamond jewelry market has not affected the lucrative sales of high-quality diamonds with large carats, nor has it stopped Lucapa from continuing to accumulate cash.
In the third quarter, Lucapa generated US$22.1 million in revenue from its two mines, Lulo and Mothae. This generous income allowed Lucapa to repay the final instalment of the initial $15 million** bond, $1.9 million. In addition, Lucapa repaid $600,000 to Mothae's LDC loan, completing the full interest payment.
Lulo Mine.
*Derived from Lucapa
Since Lulo began operations, Lucapa has discovered 39 diamonds over 100 carats here, including five in 2023.
*Derived from Lucapa
In addition to Lulo, Lucapa also has Mothae and a number of other high-quality tenements. Nick Selby made it clear that if the analysts** are right, the downward diamond market will start to pick up in mid-2024 and they will further expand their mine operations.
Mothae Mine.
*Derived from Lucapa
Lucapa's large carat natural diamonds are selling well, and on the other hand, William Goldberg's Ashoka is also on the market.
The ashoka cut, which perfectly combines the essence of the baguette, emerald and brilliant cuts, depicts a unique cut with 62 facets, so that it is even more fruitful in the same carat ** (1. for the emerald cut3 times), even on the GIA certificate, it has its own unique cutting name.
*Originated by William Goldberg
Each ashoka diamond is hand-polished by experienced artisans and takes up to six months, five times as long as the average diamond. Only about 1,000 Ashoka diamonds of one carat or larger are produced globally each year, and the high-end market is even more coveted than five carat or more Ashoka diamonds.
*Originated by William Goldberg
Lab-grown diamonds are indeed making an impact on the natural diamond market, but they have nothing to do with high-end natural diamonds, which are sold in large carats and high-quality cuts. Lucapa and William Goldberg are still laughing at the market, while De Beers on the other side is laughing more "cheering".
According to Bloomberg (Bloomberg) said on February 8**, De Beers is not profitable in the second half of 2023 after being hit by ***, and its parent company Anglo American PLC (Anglo American Group) is evaluating its book value and may be able to **.
Almost on the same day, Bloomberg published another interview with Al Cook, CEO of de Beers**. Among them, Al Cook mentioned that de Beers' diamond sales revenue at the most recent (first in 2024) sight was as large as the last two in 2023 combined, and that de Beers saw a definite upward trend from it.
Al Cook, CEO of de Beers, was interviewed by **.
*Originated from Bloomberg
As for the recovery of the diamond market this year, Al Cook showed enough patience in the interview, believing that it will be a gradual process, like a "U" shape, rather than a sudden "V" shape, because the main factors that caused the decline in the diamond market will be reversed this year. Diamonds, as an important precious gemstone that everyone has loved for thousands of years, Al Cook believes that the demand for diamonds will not only rebound in the future, but will continue to grow.
*Derived from de beers
Nowadays, there are different opinions about the diamond market, some people are optimistic about the prospects of the natural diamond market, and some people have turned to embrace lab-grown diamonds; Some people are already clearing their warehouses at a low price, and some people are taking advantage of the opportunity**; What do you think? Welcome to leave a message or private message to communicate with us!
Pay attention to Zhen brand jewelry, keep up with the new trend of international high-end jewelry, and we look forward to communicating with you more.
In the next issue, Zhenzihao and Sister C will continue to introduce you to more top designers, luxury and antique jewelry, and promise you to see you soon!