Lucara Diamond Corp observes market stabilization despite Q2 2026 revenue decrease

The company's directors noted stronger price performance for larger, rarer, and higher-value diamonds due to constrained supply and resilient demand. Smaller commercial categories are recovering more slowly and still face pricing pressure. Positive price movement is becoming evident in both rough and polished markets, indicating a potential stabilization after a prolonged downturn.

Despite macroeconomic uncertainty and competition from lab-grown diamonds, tightening natural diamond supply, improving sentiment, and emerging price momentum suggest a more positive outlook for the remainder of 2026. Lucara's Q2 2026 revenue, primarily from the Karowe Diamond Mine, decreased to $41.0 million from $43.7 million in the previous corresponding period, mainly due to fewer carats sold through tender and a lower average dollar-per-carat for stones under 10.8 carats.