VANCOUVER, BC, Nov. 4, 2020 /CNW/ - (TSX: LUC) (BSE: LUC)
(Nasdaq Stockholm: LUC) Lucara Diamond Corp. ("Lucara" or the
"Company") is pleased to announce that it has entered into an
agreement with Louis Vuitton, the
famous luxury goods House and HB Antwerp ("HB"), a European diamond
manufacturing and technology company, for the purpose of
collaborating on the planning, cutting and polishing of the
exceptional, 549 carat white gem diamond referred to as "Sethunya"
meaning "Flower" in Setswana. Sethunya was recovered unbroken from
direct milling of ore sourced from the EM/PK(S) unit of the South
Lobe of Lucara's 100% owned Karowe Mine in February 2020 (image attached). This agreement
builds on the collaboration, announced in January, with
Louis Vuitton and HB on the historic
1,758 carat Sewelô, Botswana's
largest diamond, recovered from Karowe last year (see Lucara Press
Releases January 15, 2020, and
February 5, 2020). Please view PDF
version.
Lucara's 549 carat rough diamond. Photo credit: Philippe Lacombe, courtesy of Louis Vuitton
Under the arrangement between Lucara, Louis Vuitton, and HB, the parties will
collaborate and plan the creation of the highest value polished
diamonds from the 549 carat rough, which will be made available to
Louis Vuitton exclusively. Lucara
will be paid a purchase price based on the estimated polished
outcome, determined by HB's state of the art scanning and planning
technologies, with a true up paid on the actual achieved polished
sales thereafter, less a fee and the cost of manufacturing. Lucara
will receive the purchase price based on the polished outcome no
later than Q4 2021.
In line with their long tradition of personalisation,
Louis Vuitton envisages crafting
beautiful, bespoke high value polished stones of variable size and
shape fashioned from this rare specimen to the client's wishes: the
ultimate personalised High Jewellery experience and the opportunity
to create a truly unique gem, a storied family heirloom. In this
way, the client will be involved in the creative process of
plotting, cutting, polishing, and becoming part of the story that
the stone will carry with it into history.
Eira Thomas, CEO commented: "We are extremely pleased to be
building on the ground breaking partnership established for the
manufacturing of the Sewelô earlier this year, bringing together
the manufacturing and supply chain expertise of HB Antwerp in
collaboration with the world's leading luxury brand, Louis Vuitton, to transform Sethunya, an
exceptionally pure, high colour 549 carat rough diamond from
Karowe, into an extraordinary, bespoke, polished diamond
collection, catering exclusively to the desires of Louis Vuitton's global customer base."
Eira Thomas
President and Chief Executive Officer
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ABOUT LUCARA
Lucara is a leading independent producer
of large exceptional quality Type Ila diamonds from its 100% owned
Karowe Mine in Botswana and owns a
100% interest in Clara Diamond Solutions, a secure, digital sales
platform positioned to modernize the existing diamond supply chain
and ensure diamond provenance from mine to finger. The Company has
an experienced board and management team with extensive diamond
development and operations expertise. The Company operates
transparently and in accordance with international best practices
in the areas of sustainability, health and safety, environment, and
community relations.
ABOUT LOUIS
VUITTON
Since 1854, Louis
Vuitton has brought unique designs to the world, combining
innovation with style, always aiming for the finest quality. Today,
the House remains faithful to the spirit of its founder,
Louis Vuitton, who invented a
genuine "Art of Travel" through luggage, bags and accessories which
were as creative as they were elegant and practical. Since then,
audacity has shaped the story of Louis
Vuitton. Faithful to its heritage, Louis Vuitton has opened its doors to
architects, artists and designers across the years, all the while
developing disciplines such as ready-to-wear, shoes, accessories,
watches, jewellery, and fragrance. These carefully created products
are testament to Louis Vuitton's
commitment to fine craftsmanship.
ABOUT HB ANTWERP
HB
Antwerp turns the diamond supply
chain upside down starting with the customer. Using technology,
they bring simplicity and transparency to a typically complex
supply chain. Everything happens in a closed loop called Signum in
Antwerp, backed with the latest
technologies and tracked with blockchain making it 100% transparent
from diamond mine to market.
This information is information that the Company is obliged to
make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of
the contact person set out above, at 7:30 am
Pacific Time on November 4,
2020.
CAUTIONARY NOTE REGARDING FORWARD LOOKING
STATEMENTS
Certain of the statements made and contained
herein and elsewhere constitute forward-looking statements as
defined in applicable securities laws. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as "expects", "anticipates",
"believes", "intends", "estimates", "potential", "possible" and
similar expressions, or statements that events, conditions or
results "will", "may", "could" or "should" occur or be
achieved.
Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made,
and they are subject to a number of known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievement
expressed or implied by such forward-looking statements. The
Company believes that expectations reflected in this
forward-looking information are reasonable, but no assurance can be
given that these expectations will prove to be accurate and such
forward-looking information included herein should not be unduly
relied upon.
In particular, this release contains forward looking information
pertaining to the following: the ability of Louis Vuitton to successfully market polished
stones to be produced from the 549
ct. diamond, the value of the polished stones that are
ultimately produced from the 549 ct.,
the purchase price ultimately paid to Lucara for the 549 ct. stones and other forward looking
information.
There can be no assurance that such forward looking statements
will prove to be accurate, as the Company's results and future
events could differ materially from those anticipated in this
forward-looking information as a result of the rapidly evolving
regulatory landscape and market conditions related to the COVID-19
pandemic, and the operational and travel bans that have been
imposed or may be expanded into regions impacting Lucara's
operations, those factors discussed in or referred to under the
heading "Risks and Uncertainties"' in the Company's most recent
Annual Information Form available at http://www.sedar.com, as well
as changes in general business and economic conditions, changes in
interest and foreign currency rates, the supply and demand for,
deliveries of and the level and volatility of prices of rough
diamonds, costs of power and diesel, acts of foreign governments
and the outcome of legal proceedings, inaccurate geological and
recoverability assumptions (including with respect to the size,
grade and recoverability of mineral reserves and resources), and
unanticipated operational difficulties (including failure of plant,
equipment or processes to operate in accordance with specifications
or expectations, cost escalations, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job actions, adverse
weather conditions, and unanticipated events relating to health
safety and environmental matters).
Accordingly, readers are cautioned not to place undue reliance
on these forward-looking statements which speak only as of the date
the statements were made, and the Company does not assume any
obligations to update or revise them to reflect new events or
circumstances, except as required by law.
SOURCE Lucara Diamond Corp.