Lucara Diamond Share Price (0QUI)

I have been a buyer of late, seems well oversold now and ripe for a decent rebound as diamond prices improve through 2024/25, great longer term investment imo

Is there anybody following this stock - obviously no discussion here on progress and prospects. I believe this is a decent, well-run company. I guess the key question is - what are the short to medium term prospects in the diamond sector ahead for producers of raw diamonds.

cones to standstill trading as most diamonds in inventory are from Russia. India supplies close to half of diamonds to the US market. Lucara produces high class, higher valued stones, expanding production. Should do fine as diamond buyers look to find other sources to get the stones.

Alrosa produces about 30 per cent of global diamonds, Rio Tinto shut the Argyle mine in November 2020, wiping out Australia as the second-largest diamond producer after Russia. De Beers is owned by Anglo American and is only a small part of overall mining revenues. Gem Diamonds & Petra, the latter went just through a financial restructuring after practically defaulting on a 650 million US-Dollar bond. Lucara is run by the Lundin family and they are normally good managers. The company is expanding the open-pit mine to an additional underground mine, extending the life of the mine to the year 2060. The expansion is fully funded and the work is on time and in budget!

Morning all, here's a short video update from the CEO Eira Thomas

https://youtu.be/h3e7pZQkNuk

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