Lucapa raises its revenue guidance by up to 27%

Lucapa Diamond Company Limited reports a significant upgrade to its CY2021 full year attributable guidance, which sees its full year EBITDA increase ~ 45% to A$26 – 28 million following solid operational performances from both the Lulo and Mothae mines, notwithstanding expansion ramp up and weather challenges at Mothae.

Managing Director, Stephen Wetherall commented “Lucapa and our partners set ambitious 2021 operational and financial targets for both mining operations as the diamond industry began to emerge from the pandemic. With nine months now behind us, we are extremely pleased to provide revised full-year guidance that sees an uplift of approximately 45% in our EBITDA guidance to A$26 – 28 million”. “The forecast record financial performance at Lulo this year, is expected to accelerate returns to Lulo shareholders and the capital loan repayments to Lucapa, which in turn we expect to utilise in reducing the corporate debt levels”.