EarningsLucara reported Q1/24 results with a miss on production and earnings.
Financial PerformanceEarnings were impacted by the US$10.5M ‘loss on extinguishment of the (debt) facilities’, when the project loan and working capital facility was renegotiated.
Market OutlookAnalyst remains cautious on short- to mid-term outlook given the significant capex spend, delay in the underground development schedule, and the continued weakness in diamond markets.