- Advertisement -
Lucara Diamond Corp finally sold the 1,109-carat Lesedi La Rona diamond for $53 million, or $47,777 a carat, on Monday to Graff Diamonds, Vancouver-based Lucara said in a statement.
While it’s significantly bigger than the 813-carat Constellation stone Lucara found at the same time, that stone sold for a record $63 million, or about $77,500 a carat.
The sale “clears the decks” and improves the company’s financial position, BMO analyst Edward Sterck said Tuesday in a note. Lucara could flow funds to shareholders as a special dividend of about 10 Canadian cents a share following the sale, he said.
Lucara rose as much as 7.4 percent in Toronto, the biggest intraday gain since September 2016. The shares still have declined 19 percent this year.
- Advertisement -
