Lucapa’s large Angola find despite loss

Company News

by David Murdoch

Lucapa Diamond Company (ASX:LOM) has reported a US$1.2 million loss for the 6 months ended 30 June 2017.

The result follows a $3.25 million profit for the prior corresponding period to 30 June 2016.

The company’s net cash used in general operating activities sank to a $US1.9 million loss for the current period.

But there was some good news for the company, it recovered Angola’s second largest recorded diamond of 227 carats.

The company also reported a cash balance of US$7.8 million and a 1,716 carat diamond inventory.

Lucapa Diamond Company (ASX:LOM) are trading flat at 27 cents.