08:20 AM EST, 12/01/2016 (MT Newswires) -- Lucara Diamond Corp. (LUC.TO) which closed 3.26% lower on Wednesday, provided an operating guidance for 2017.

HIGHLIGHTS

Revenue of $200 to $220 million is budgeted excluding the sale of the Lesedi La Rona diamond.Â

The Karowe mine is forecast to process between 2.2 - 2.5 million tonnes of ore, producing between 290,000 and 310,000 carats of diamond.

Karowe operating cash costs are expected to be between $36.0 - $40.0 per tonne processed following a planned increase in waste mining as the Company advances toward early completion of a major push back by the end of 2018. This will create further optionality for accessing high value south lobe ore. Operating cash costs, excluding waste mining is expected to be $19 - $20 per tonne processed in 2017.

The exploration program continues to advance in 2017 with focus on a second 5000 tonne bulk sample at BK02, drilling at AK13 as well as micro diamond analysis at AK11.Â

Capital projects are forecast at between $33 - $35 million in 2017.

The Company anticipates it will declare an annual dividend in 2017 of Canadian $0.10 per share (up from $0.06 in 2016) to be paid in four equal payments at the end of each financial quarter.

Price: 3.26, Change: 0, Percent Change: 0