10:26 AM EDT, 08/04/2017 (MT Newswires) -- Lucara Diamond Corp. (LUC.TO) has released its second quarter results

Revenue was $79.6 million or $1,336 per carat (Q2 2016: $77.7 million excluding the sale of the Constellation diamond for $63.1 million and $1,017 per carat). Earnings per share for H1 2017 was $0.08 (H1 2016: $0.08 earnings per share excluding the sale of the Constellation diamond). Analysts were expecting EPS of $0.10

Exploration highlights include: the Company's drilling program at the Karowe Mine testing the AK06 kimberlite at depths below 400m metres was completed in February 2017. Mineral Services Canada has been contracted to assist in the development of the sampling program and internal geology updates that will be utilized for an updated resource estimate for the current inferred portion of the Karowe Mine to a depth of approximately 600m. The resource update is expected to be complete in Q4, 2017.

During Q2 2017, the Company initiated a large diameter drilling sampling program at the AK11 kimberlite and microdiamond work is being conducted on kimberlite recovered from AK13 which may lead to a further drilling program based on the overall results.

Extension applications were submitted for each of the prospecting licenses. Responses from the Ministry of Mines are expected in Q3 2017.

Lucara's shares were last up 0.73% at $2.75 apiece.

2.75 +0.02 (0.73%)