Lucara Provides Karowe Underground Expansion Project Update
VANCOUVER, BC, July 16, 2023 /CNW/ - (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm) Lucara Diamond Corp. (“Lucara” or the “Company”) provides an update on the Karowe Underground Expansion project (the “UGP”). The Karowe UGP is designed to access the highest value portion of the Karowe orebody, extend mine life to at least 2040 and deliver approximately $4 billion in additional revenues using conservative diamond price assumptions which are un-escalated and exclude exceptional stone revenues. Management initiated an update to the UGP schedule and budget in response to slower than