VANCOUVER, BC, Aug. 14,
2023 /CNW/ - (TSX: LUC), (BSE: LUC), (Nasdaq
Stockholm: LUC) Please view PDF version.
Lucara Diamond Corp. announces the intention to appoint
William Lamb as the Company's
President and Chief Executive Officer and a director, replacing
Ms. Eira Thomas.
Eira Thomas co-founded Lucara in 2007, with partners
Lukas Lundin and Catherine McLeod-Seltzer. Ms. Thomas took on the
role of President and Chief Executive Officer of the Company in
2018. Ms. Thomas has been integral to the development and success
of the Company's 100% owned Karowe Diamond Mine, which is the
world's leading source of large exceptional quality Type IIa
diamonds.
The Board would like to acknowledge the special contributions
that Eira has made over her many years of involvement with Lucara
in her capacity as a director, and specifically over the last five
years as CEO. As CEO, Ms. Thomas introduced an innovative diamond
sales strategy for Lucara's production of rough stones greater than
10.8+ carats though Lucara's agreement with HB Antwerp, generating
regular revenues on superior pricing terms. Ms. Thomas also led the
commercialization of Clara, a secure, digital diamond sales
platform. More recently under Ms. Thomas's leadership, the Karowe
Mine achieved peak operational performance and she and her team
arranged for a senior secured project financing debt package of
$220 million enabling the underground
expansion to advance.
William Lamb has over 25 years'
experience in mining project development and operations. William
served as Chief Executive Officer of Lucara Diamond Corp. from
May 2011 to February 2018. He also has prior diamond and
other mining company expertise gained through projects, process
engineering and operations with De Beers, as well as serving on
several public mining company boards. During his original tenure at
Lucara, William was responsible for the highly successful
construction of the original Karowe mine and its facilities.
William's prior experience is ideally suited to advancing the
Company's key underground project to a successful completion.
Paul Conibear, Chair of Lucara's
board of directors stated, "On behalf of Lucara's Board of
Directors, I would like to thank Eira for her leadership and the
integral role she has played in the success of the Karowe Diamond
Mine. Eira's commitment, excellent team leadership skills, focus on
operational excellence and her ability to see how innovation and
technology can be harnessed to strengthen our Company have been
invaluable. Lucara has also benefited from the deep ties Eira has
made with the communities in which we operate and our stakeholders
through her hard work and foresight."
Adam Lundin stated, "We are very
grateful for Eira's tremendous contribution to Lucara since its
founding. She has laid the groundwork for further value add at the
Karowe Diamond Mine, for the benefit of all Lucara's stakeholders.
We look forward to working with Eira on exploring options to
maximize the value of Clara for all stakeholders. We are very
pleased to have William rejoin us and successfully lead the company
once again."
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ABOUT LUCARA
Lucara is a leading independent producer of large exceptional
quality Type IIa diamonds from its 100% owned Karowe Diamond Mine
in Botswana. The Karowe Mine has
been in production since 2012 and is the focus of the Company's
operations and development activities. Clara Diamond Solutions
Limited Partnership ("Clara"), a wholly-owned subsidiary of Lucara,
has developed a secure, digital sales platform that uses
proprietary analytics together with cloud and blockchain
technologies to modernize the existing diamond supply chain,
driving efficiencies, unlocking value and ensuring diamond
provenance from mine to finger. Lucara has an experienced board and
management team with extensive diamond development and operations
expertise. Lucara and its subsidiaries operate transparently and in
accordance with international best practices in the areas of
sustainability, health and safety, environment, and community
relations. Lucara has adopted the IFC Performance Standards and the
World Bank Group's Environmental, Health and Safety Guidelines for
Mining (2007). Accordingly, the development of the Karowe
underground expansion project ("UGP") adheres to the Equator
Principles. Lucara is committed to upholding high standards while
striving to deliver long-term economic benefits to Botswana and the communities in which the
Company operates.
The information is information that Lucara is obliged to make
public pursuant to the EU Market Abuse Regulation and the Swedish
Securities Markets Act. This information was submitted for
publication, through the agency of the contact person set out
above, on August 14, 2023 at
2:30pm Pacific Time.
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, forward-looking information and forward-looking
statements may include, but are not limited to, statements
regarding the development of the Karowe Underground Project, its
life of mine and projected revenues.
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 those factors discussed
in or referred to under the heading "Risks and Uncertainties" in
the Company's most recent Annual Information Form, both available
at http://www.sedar.com, as well as changes in general business and
economic conditions, the ability to continue as a going concern,
changes in interest and foreign currency rates, changes in
inflation, the supply and demand for, deliveries of and the level
and volatility of prices of rough diamonds, costs of power and
diesel, impacts of potential disruptions to supply chains, 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.