Lucara flags going concern risk on back of lower revenue
TSX- and BSE-listed Lucara Diamond has said there is “significant doubt” about its ability to continue as a going concern, after a drop in diamond sales and increased reliance on limited funding sources raised pressure on the company's cash flow and working capital. In the first quarter of 2025, revenue dropped to $30.3-million from $39.5-million a year earlier, driven by lower carat sales and a shift to lower-grade ore as unusually high rainfall disrupted mining at the Karowe openpit, in Botswana. The company sold 72 871 ct in the period, down from 93 560 ct in the first quarter of 2024.
TSX- and BSE-listed Lucara Diamond has said there is “significant doubt” about its ability to continue as a going concern, after a drop in diamond sales and increased reliance on limited funding sources raised pressure on the company's cash flow and working capital.
In the first quarter of 2025, revenue dropped to $30.3-million from $39.5-million a year earlier, driven by lower carat sales and a shift to lower-grade ore as unusually high rainfall disrupted mining at the Karowe openpit, in Botswana. The company sold 72 871 ct in the period, down from 93 560 ct in the first quarter of 2024.
