Magical future ahead for Merlin - Lucapa
Diamond miner Lucapa has updated the scoping study for its Merlin diamond project, in the Northern Territory, after the price of rough diamonds increased by some 42% over the last three months.
Based on the production of 2.1-million carats over a 14-year operational life, the updated scoping study estimated that the Merlin project could generate revenues of between A$1.6-billion and A$2.3-billion, and earnings before interest of between A$702-million at the low end of the scale, and up to A$1.2-billion at current rough diamond prices.