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Lucapa Diamond Company granted trading halt pending acquisition

Lucapa Diamond Company (ASX:LOM) has been granted a trading halt by the ASX pending the finalisation of negotiations to acquire a diamond mining project.

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Lucapa Diamond has been granted a trading halt

The company will remain in the trading halt until the earlier of the announcement or the commencement of trading on Tuesday, 31st January 2017.

Lucapa’s flagship asset and principal investment is the Lulo Diamond Project, which is a partnership over a 3,000 square kilometre concession in the African country of Angola.

The company produced 5,313 carats of diamonds from Lulo during the December quarter, an increase of 147% on the 2015 December quarter.

This resulted in strong cash generation of A$19.2 million from diamond sales, which was more than the entire diamond sales during FY2015.

Quick facts: Lucapa Diamond Company

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ASX:LOM

Price: 0.054 AUD

Market Cap: $68.4 m

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