CA - Lucara Diamond Corp. (LUCRF) Q1 2024 Earnings Call Transcript
2024-05-10 10:59:10 ET
Lucara Diamond Corp. (LUCRF)
Q1 2024 Earnings Conference Call
May 10, 2024, 09:00 AM ET
Company Participants
William Lamb - President and Chief Executive Officer
John Armstrong - Vice President, Technical Services
Glenn Kondo - Chief Financial Officer
Conference Call Participants
Presentation
Operator
Good morning. My name is Loudi and I will be your conference operator today. At this time, I would like to welcome everyone to the Lucara Diamond 2024 First Quarter Results Conference Call and Webcast. [Operator Instructions] After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.
Mr. William Lamb, you may begin your conference.
William Lamb
Thank you very much, and everybody for dialing into the Lucara Q1 2024 results. With me, I have Glenn Kondo, our CFO. So we’ll just flip through the slides and sort of easier to talk through those. So if we are going onto the third slide, our first one there, we'll assume that everybody has read through the cautionary statements. And just really the highlights from the quarter, I’m just going to touch on a couple of these. So $41 million of diamonds sold and throughout our three channels, this is the HP agreement at Clara and regular tenders about 93.500 [ph] carats sold there generating $41 million which is inline with what we did last year. But I want to just jump down to the 5.1 weight percent specials, which we recovered. This is below what we would normally expect when mining in the in the South Lobe. We're normally targeting around about 6.8. Still 160 specials. That stone’s over 10.8 carats recovered during the month. But obviously the quality of those is something that we cannot control and we'll most likely discuss that a little bit later....
Lucara Diamond Corp. (LUCRF) Q1 2024 Earnings Call Transcript