Star Diamond acquires Buffalo Hills project in Alberta
Located approximately 400 kilometres northwest of Edmonton, the Buffalo Hills project includes 21 mineral leases covering 4,800 hectares.
Shares of Vancouver’s Lucara Diamond Corp. (TSX:LUC) were halted July 19 following the company’s announcement that it would pay shareholders an unusually large one-time dividend.
The special $0.45 dividend works out to be a 13% gift, based on the company’s current $3.46 share price.
The payment is to be paid on September 15 to shareholders of record on September 2.
Lucara also pays regular $0.015 quarterly dividends.
“The payment of this dividend is consistent with the company’s dividend policy providing for the payment of quarterly dividends and the payment, from time to time, of a special dividend based on revenues generated based on the company’s overall financial position and other factors existing at the time under consideration,” the company said in a release.
Despite being up substantially from its 52-week low share price of $1.42, Lucara shares have been sliding of late. The company’s 52-week high is $4.37.
Lucara is still trying to sell the second-largest diamond ever discovered.
The Lesedi La Rona diamond in June was put up for auction at Sotheby’s, where it was expected to fetch about US$70 million.
The highest bid was only US$61 million, which was lower than the minimum bid price. That bid, however, when combined with a 12% buyer’s premium charge, would have been US$68.3 million, or the highest price ever paid for a diamond.
Earlier this year, Lucara sold a different large diamond, dubbed the Constellation, for US$63 million. That’s the largest price ever paid for a rough diamond.
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