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Diamond Company Is Close to Finding ‘Mother Lode,’ Chairman Says

He believes ‘huge wealth’ is well within reach.

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The chairman of Lucapa Diamond Company told stockholders Monday that his exploration team is closer than ever to striking the mother lode at the flagship Lulo site in Angola.

While Lulo already has a reputation for turning out large, high-quality diamonds at its alluvial deposit, chairman Miles Kennedy believes the prospect of “huge wealth” is well within reach.

“There are no silver bullets in the kimberlite exploration game…” Kennedy said. “But the patient and methodical approach adopted by our exploration team is narrowing down and confining the search areas of our quest. It may take us another couple of years, but I am more confident than ever that we can indeed find the diamond source at Lulo.”

“And while kimberlite exploration can by nature be painstakingly slow,” he added, “I am equally of the view that we are closer than ever to finding the mother lode…”

The Lulo mining area, which comprises 1,100 square miles along the length of the 31-mile Cacuilo River, has already generated a series of high-quality, impressive finds. The largest to date was discovered in 2016 and named “4 de Fevereiro.” The 404.20-carat rough gem was eventually sold for $16 million to luxury jeweler De Grisogono, which cut it into a flawless 163.41-carat emerald-cut diamond.To identify and protect sizable diamonds that might otherwise be damaged in the sorting process, Lucapa installed a $3.5 million state-of-the-art XRT large-diamond recovery system in 2017. The system uses advanced X-ray transmission technology (XRT) and larger screens (55mm) so diamonds up to 1,100 carats can be cherry picked. XRT technology is also more efficient at recovering low-luminescing, ultra-pure Type IIa diamonds. Diamonds from the Lulo site typically sell for $2,000 per carat.

Lucapa has a 40% stake in the Lulo mine and holds an exploration license that runs until April 2023. The mining firm maintains two partners in the project — Empresa Nacional de Diamantes EP and Rosas & Petales.

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Howard Cohen is the Shoreham, NY-based editor of The Jeweler Blog, a daily blog ghost-written for retail jewelers. Cohen, a long-time industry veteran, is dedicated to making social media tasks simple and affordable for every jeweler. For more information, visit thejewelerblog.com or contact Cohen at 631-821- 8867, hscohen60@gmail.com. Websites: thejewelerblog.com, thejewelerblog.wordpress.com.

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4 Dead After Jewelry-Store Robbery Leads to Police Chase and Shootout (Video)

2 suspects were killed, along with a UPS driver and a bystander.

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A jewelry-story robbery in South Florida led to a police chase and shootout that left four people dead, The Associated Press reports.

Police responded to a silent alarm just after 4 p.m. at Regent Jewelers in Coral Gables. Officers arrived to find shots being fired, with two suspects still on site, according to AP.

The robbers took off in a truck and shortly afterward carjacked a UPS truck, authorities said. A harrowing police chase ensued, continuing for 20 miles and ending at a busy intersection in Miramar.

When police approached the UPS truck, a shootout erupted, leaving the two suspects dead, along with the UPS driver and a person described as an “innocent bystander” in a nearby vehicle, AP reports.

“We have just began to process the crime scene,” FBI Special Agent in Charge George Piro was quoted saying. “As you can imagine, this is going to be a very complicated crime scene.”

A jewelry-store employee was reportedly injured, but it’s unknown whether she was shot. It’s also unknown what, if anything, was taken from the store.

Read more at The Associated Press

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Truck Slams Jewelry Store in $200,000 Burglary — Watch the Video

The culprits left the vehicle at the scene.

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Burglars slammed a truck into a jewelry store in Los Altos, CA, and took $200,000 worth of merchandise, police say.

Marcel Jewelry Design was targeted early Monday morning, ABC 7 reports.

The stolen truck rammed the front window of the store three times, finally making it through. The burglars got out and broke jewelry cases with a hammer. They left after less than a minute.

The truck was left at the scene.

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Jewelers Report Bright Start to the 2019 Holiday Season

Thanks to higher average tickets and solid foot traffic.

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INDEPENDENT JEWELERS ACROSS the country reported a strong start to the 2019 holiday season with one in three saying they were ahead of last year’s numbers thanks to higher average tickets and solid foot traffic, especially on Small Business Saturday.

“Customers started shopping earlier, which is a blessing considering the shorter holiday this year,” said Rick Nichols, owner of Nassau Jewelry in Fernandina Beach, FL.

Dennis Petimezas, owner of Watchmakers Diamonds & Jewelry in Johnstown, PA, said he noticed some caution among early shoppers but they are “bringing in the big-ticket items when they do make a decision.”

More than a third of the jewelers who answered our first 2019 holiday season mini survey reported an average sale that was in excess of $600, while 37 percent said it was up from last year. Only 9 percent of jewelers said their average ticket was down. Diamond fashion jewelry, particularly diamond stud earrings, was selling well.

While only a small portion of jewelers described the start to the vital holiday period as “disappointing” (12%) or “dismal” (2%) few were getting ahead of themselves. Increased competition, especially from big online retailers such as Amazon, means most jewelers are expecting to put in some long shifts over the next four weeks, while offering extra personalized service. Then there are the vagaries of the weather.

“This is my 45th year and it’s always unpredictable,” said Larry W. Hall, owner of Baker & Baker Jewelers in Marietta, OH. “I have ‘jacked up’ my staff on the attention-to-detail factors, i.e., look into the customer’s eyes often and, anyone walking in is greeted in seconds. I am looking at the security camera to see if we I recognize the customer to possibly greet them by name … ‘Hello, Mary and Jim!’ Happy holidays…’ and I offer to clean their jewelry and now our sales staff has a captive audience to sell to.”

The first 2019 Holiday Season Mini survey was taken by more than 100 independent jewelers who are part of our Brain Squad readers group. We will send out more surveys over the course of the holiday season. Look out for the results each Tuesday.

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