Intrinsic value of Lucara Diamond Corp. - LUC

Previous Close

$2.59

  Intrinsic Value

$138.24

stock screener

  Rating & Target

str. buy

+999%

Previous close

$2.59

 
Intrinsic value

$138.24

 
Up/down potential

+999%

 
Rating

str. buy

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of LUC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  32.12
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  399
  638
  986
  1,475
  2,140
  3,020
  4,151
  5,572
  7,317
  9,415
  11,891
  14,766
  18,053
  21,760
  25,891
  30,443
  35,412
  40,792
  46,573
  52,746
  59,303
  66,233
  73,531
  81,190
  89,207
  97,581
  106,313
  115,407
  124,868
  134,706
  144,931
Variable operating expenses, $m
 
  254
  393
  587
  852
  1,202
  1,652
  2,218
  2,912
  3,747
  4,733
  5,877
  7,185
  8,661
  10,304
  12,116
  14,094
  16,235
  18,536
  20,993
  23,602
  26,361
  29,265
  32,314
  35,504
  38,837
  42,313
  45,932
  49,697
  53,613
  57,682
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  189
  254
  393
  587
  852
  1,202
  1,652
  2,218
  2,912
  3,747
  4,733
  5,877
  7,185
  8,661
  10,304
  12,116
  14,094
  16,235
  18,536
  20,993
  23,602
  26,361
  29,265
  32,314
  35,504
  38,837
  42,313
  45,932
  49,697
  53,613
  57,682
Operating income, $m
  210
  384
  594
  888
  1,288
  1,818
  2,499
  3,354
  4,405
  5,668
  7,159
  8,889
  10,868
  13,100
  15,586
  18,327
  21,318
  24,557
  28,037
  31,753
  35,700
  39,872
  44,266
  48,876
  53,703
  58,744
  64,000
  69,475
  75,171
  81,093
  87,248
EBITDA, $m
  232
  420
  648
  969
  1,406
  1,984
  2,728
  3,662
  4,808
  6,187
  7,814
  9,703
  11,863
  14,299
  17,014
  20,005
  23,270
  26,806
  30,605
  34,661
  38,970
  43,524
  48,319
  53,352
  58,621
  64,124
  69,862
  75,837
  82,055
  88,519
  95,238
Interest expense (income), $m
  0
  0
  3
  7
  13
  21
  32
  45
  63
  84
  109
  139
  174
  214
  259
  309
  364
  424
  489
  559
  634
  713
  797
  886
  978
  1,075
  1,177
  1,282
  1,393
  1,507
  1,626
Earnings before tax, $m
  210
  384
  591
  881
  1,275
  1,797
  2,467
  3,309
  4,342
  5,584
  7,049
  8,750
  10,694
  12,886
  15,327
  18,018
  20,954
  24,133
  27,548
  31,194
  35,066
  39,159
  43,468
  47,991
  52,724
  57,668
  62,824
  68,192
  73,778
  79,586
  85,622
Tax expense, $m
  115
  104
  160
  238
  344
  485
  666
  893
  1,172
  1,508
  1,903
  2,363
  2,887
  3,479
  4,138
  4,865
  5,658
  6,516
  7,438
  8,422
  9,468
  10,573
  11,736
  12,958
  14,236
  15,570
  16,962
  18,412
  19,920
  21,488
  23,118
Net income, $m
  95
  281
  431
  643
  931
  1,312
  1,801
  2,416
  3,170
  4,076
  5,146
  6,388
  7,807
  9,407
  11,189
  13,153
  15,297
  17,617
  20,110
  22,772
  25,598
  28,586
  31,732
  35,033
  38,489
  42,098
  45,861
  49,780
  53,858
  58,097
  62,504

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  72
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  408
  537
  830
  1,242
  1,802
  2,542
  3,494
  4,690
  6,159
  7,925
  10,010
  12,430
  15,196
  18,317
  21,793
  25,625
  29,808
  34,337
  39,203
  44,399
  49,918
  55,752
  61,895
  68,342
  75,090
  82,139
  89,489
  97,144
  105,108
  113,389
  121,995
Adjusted assets (=assets-cash), $m
  336
  537
  830
  1,242
  1,802
  2,542
  3,494
  4,690
  6,159
  7,925
  10,010
  12,430
  15,196
  18,317
  21,793
  25,625
  29,808
  34,337
  39,203
  44,399
  49,918
  55,752
  61,895
  68,342
  75,090
  82,139
  89,489
  97,144
  105,108
  113,389
  121,995
Revenue / Adjusted assets
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
  1.188
Average production assets, $m
  167
  267
  413
  618
  897
  1,265
  1,739
  2,335
  3,066
  3,945
  4,982
  6,187
  7,564
  9,118
  10,848
  12,755
  14,838
  17,092
  19,514
  22,101
  24,848
  27,752
  30,809
  34,019
  37,378
  40,886
  44,545
  48,355
  52,320
  56,442
  60,726
Working capital, $m
  90
  29
  44
  66
  96
  136
  187
  251
  329
  424
  535
  664
  812
  979
  1,165
  1,370
  1,594
  1,836
  2,096
  2,374
  2,669
  2,980
  3,309
  3,654
  4,014
  4,391
  4,784
  5,193
  5,619
  6,062
  6,522
Total debt, $m
  0
  83
  203
  372
  602
  907
  1,298
  1,790
  2,393
  3,119
  3,976
  4,971
  6,108
  7,390
  8,819
  10,394
  12,113
  13,974
  15,974
  18,110
  20,378
  22,776
  25,301
  27,950
  30,724
  33,621
  36,642
  39,788
  43,061
  46,465
  50,002
Total liabilities, $m
  138
  221
  341
  510
  740
  1,045
  1,436
  1,928
  2,531
  3,257
  4,114
  5,109
  6,246
  7,528
  8,957
  10,532
  12,251
  14,112
  16,112
  18,248
  20,516
  22,914
  25,439
  28,088
  30,862
  33,759
  36,780
  39,926
  43,199
  46,603
  50,140
Total equity, $m
  270
  317
  489
  731
  1,061
  1,497
  2,058
  2,763
  3,627
  4,668
  5,896
  7,321
  8,951
  10,789
  12,836
  15,093
  17,557
  20,224
  23,091
  26,151
  29,402
  32,838
  36,456
  40,253
  44,228
  48,380
  52,709
  57,218
  61,908
  66,786
  71,855
Total liabilities and equity, $m
  408
  538
  830
  1,241
  1,801
  2,542
  3,494
  4,691
  6,158
  7,925
  10,010
  12,430
  15,197
  18,317
  21,793
  25,625
  29,808
  34,336
  39,203
  44,399
  49,918
  55,752
  61,895
  68,341
  75,090
  82,139
  89,489
  97,144
  105,107
  113,389
  121,995
Debt-to-equity ratio
  0.000
  0.260
  0.420
  0.510
  0.570
  0.610
  0.630
  0.650
  0.660
  0.670
  0.670
  0.680
  0.680
  0.690
  0.690
  0.690
  0.690
  0.690
  0.690
  0.690
  0.690
  0.690
  0.690
  0.690
  0.690
  0.690
  0.700
  0.700
  0.700
  0.700
  0.700
Adjusted equity ratio
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  95
  281
  431
  643
  931
  1,312
  1,801
  2,416
  3,170
  4,076
  5,146
  6,388
  7,807
  9,407
  11,189
  13,153
  15,297
  17,617
  20,110
  22,772
  25,598
  28,586
  31,732
  35,033
  38,489
  42,098
  45,861
  49,780
  53,858
  58,097
  62,504
Depreciation, amort., depletion, $m
  22
  35
  54
  81
  118
  166
  229
  307
  403
  519
  656
  814
  995
  1,200
  1,427
  1,678
  1,952
  2,249
  2,568
  2,908
  3,269
  3,652
  4,054
  4,476
  4,918
  5,380
  5,861
  6,363
  6,884
  7,427
  7,990
Funds from operations, $m
  143
  316
  486
  724
  1,049
  1,478
  2,030
  2,723
  3,573
  4,595
  5,802
  7,202
  8,802
  10,606
  12,616
  14,831
  17,249
  19,866
  22,678
  25,680
  28,868
  32,238
  35,786
  39,509
  43,407
  47,478
  51,723
  56,143
  60,742
  65,524
  70,494
Change in working capital, $m
  4
  11
  16
  22
  30
  40
  51
  64
  78
  94
  111
  129
  148
  167
  186
  205
  224
  242
  260
  278
  295
  312
  328
  345
  361
  377
  393
  409
  426
  443
  460
Cash from operations, $m
  139
  305
  470
  702
  1,019
  1,438
  1,979
  2,659
  3,494
  4,501
  5,690
  7,072
  8,654
  10,440
  12,431
  14,627
  17,025
  19,624
  22,417
  25,402
  28,573
  31,926
  35,457
  39,165
  43,046
  47,101
  51,330
  55,734
  60,316
  65,081
  70,034
Maintenance CAPEX, $m
  0
  -22
  -35
  -54
  -81
  -118
  -166
  -229
  -307
  -403
  -519
  -656
  -814
  -995
  -1,200
  -1,427
  -1,678
  -1,952
  -2,249
  -2,568
  -2,908
  -3,269
  -3,652
  -4,054
  -4,476
  -4,918
  -5,380
  -5,861
  -6,363
  -6,884
  -7,427
New CAPEX, $m
  -34
  -100
  -146
  -205
  -279
  -368
  -474
  -595
  -731
  -879
  -1,038
  -1,205
  -1,377
  -1,553
  -1,731
  -1,907
  -2,082
  -2,254
  -2,422
  -2,587
  -2,747
  -2,904
  -3,058
  -3,209
  -3,359
  -3,509
  -3,659
  -3,810
  -3,964
  -4,122
  -4,284
Cash from investing activities, $m
  -50
  -122
  -181
  -259
  -360
  -486
  -640
  -824
  -1,038
  -1,282
  -1,557
  -1,861
  -2,191
  -2,548
  -2,931
  -3,334
  -3,760
  -4,206
  -4,671
  -5,155
  -5,655
  -6,173
  -6,710
  -7,263
  -7,835
  -8,427
  -9,039
  -9,671
  -10,327
  -11,006
  -11,711
Free cash flow, $m
  89
  183
  289
  443
  659
  952
  1,338
  1,835
  2,456
  3,218
  4,133
  5,212
  6,463
  7,891
  9,500
  11,292
  13,265
  15,417
  17,746
  20,248
  22,918
  25,752
  28,748
  31,902
  35,211
  38,674
  42,291
  46,062
  49,989
  54,075
  58,323
Issuance/(repayment) of debt, $m
  0
  83
  120
  169
  230
  304
  392
  492
  603
  726
  857
  995
  1,137
  1,282
  1,429
  1,575
  1,719
  1,861
  2,000
  2,136
  2,268
  2,398
  2,525
  2,650
  2,774
  2,897
  3,021
  3,146
  3,273
  3,403
  3,537
Issuance/(repurchase) of shares, $m
  3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  3
  83
  120
  169
  230
  304
  392
  492
  603
  726
  857
  995
  1,137
  1,282
  1,429
  1,575
  1,719
  1,861
  2,000
  2,136
  2,268
  2,398
  2,525
  2,650
  2,774
  2,897
  3,021
  3,146
  3,273
  3,403
  3,537
Total cash flow (excl. dividends), $m
  92
  265
  409
  612
  889
  1,256
  1,730
  2,326
  3,060
  3,944
  4,990
  6,207
  7,600
  9,174
  10,929
  12,867
  14,984
  17,278
  19,746
  22,383
  25,186
  28,150
  31,273
  34,551
  37,984
  41,571
  45,312
  49,208
  53,263
  57,479
  61,861
Retained Cash Flow (-), $m
  77
  -119
  -172
  -242
  -330
  -436
  -561
  -704
  -865
  -1,040
  -1,228
  -1,425
  -1,630
  -1,838
  -2,048
  -2,257
  -2,464
  -2,667
  -2,866
  -3,061
  -3,251
  -3,436
  -3,618
  -3,797
  -3,975
  -4,152
  -4,329
  -4,509
  -4,691
  -4,877
  -5,069
Prev. year cash balance distribution, $m
 
  72
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  219
  237
  370
  559
  820
  1,169
  1,622
  2,195
  2,904
  3,762
  4,781
  5,970
  7,336
  8,882
  10,610
  12,520
  14,611
  16,880
  19,323
  21,935
  24,714
  27,655
  30,754
  34,010
  37,419
  40,983
  44,700
  48,572
  52,601
  56,791
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  210
  217
  322
  461
  636
  848
  1,096
  1,372
  1,668
  1,972
  2,271
  2,548
  2,789
  2,982
  3,115
  3,182
  3,179
  3,109
  2,975
  2,787
  2,556
  2,295
  2,016
  1,732
  1,456
  1,196
  959
  751
  574
  428
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Lucara Diamond Corp. is a diamond mining company focused in Africa. The Company's business consists of the acquisition, exploration, development and operation of diamond properties. Its segments include Karowe Mine, and Corporate and other. The Company holds a 100% interest in the Karowe Mine and three prospecting licenses located in Botswana. The Karowe Mine is located in north-central Botswana and is part of the Orapa/Letlhakane Kimberlite district. The kimberlite at the Karowe Mine (the AK6 Kimberlite) consists of three distinct intrusions, which form a contiguous tri-lobate kimberlite pipe. The Karowe Mine is the mine developed from the Company's AK6 Project. The Company holds interest in two precious stone prospecting licenses (PL367/2014 and PL371/2014), which host kimberlites, BK02, AK11 and AK12, AK13 and AK14. The prospecting licenses are located within a distance of 15 kilometer and 30 kilometer from the Karowe mine.

FINANCIAL RATIOS  of  Lucara Diamond Corp. (LUC)

Valuation Ratios
P/E Ratio 10.4
Price to Sales 2.5
Price to Book 3.7
Price to Tangible Book
Price to Cash Flow 7.1
Price to Free Cash Flow 9.4
Growth Rates
Sales Growth Rate 32.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 6.3%
Cap. Spend. - 3 Yr. Gr. Rate 25.3%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 21.8%
Ret/ On Assets - 3 Yr. Avg. 20.7%
Return On Total Capital 30.8%
Ret/ On T. Cap. - 3 Yr. Avg. 28.3%
Return On Equity 30.8%
Return On Equity - 3 Yr. Avg. 28.3%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 65.7%
Gross Margin - 3 Yr. Avg. 64.6%
EBITDA Margin 58.1%
EBITDA Margin - 3 Yr. Avg. 58.7%
Operating Margin 52.6%
Oper. Margin - 3 Yr. Avg. 52.6%
Pre-Tax Margin 52.6%
Pre-Tax Margin - 3 Yr. Avg. 52.7%
Net Profit Margin 23.8%
Net Profit Margin - 3 Yr. Avg. 25.5%
Effective Tax Rate 54.8%
Eff/ Tax Rate - 3 Yr. Avg. 53%
Payout Ratio 212.6%

LUC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the LUC stock intrinsic value calculation we used $399 million for the last fiscal year's total revenue generated by Lucara Diamond Corp.. The default revenue input number comes from 2016 income statement of Lucara Diamond Corp.. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our LUC stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for LUC is calculated based on our internal credit rating of Lucara Diamond Corp., is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Lucara Diamond Corp..
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of LUC stock the variable cost ratio is equal to 39.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for LUC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Lucara Diamond Corp..

Corporate tax rate of 27% is the nominal tax rate for Lucara Diamond Corp.. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the LUC stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for LUC are equal to 41.9%.

Life of production assets of 7.6 years is the average useful life of capital assets used in Lucara Diamond Corp. operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for LUC is equal to 4.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $270 million for Lucara Diamond Corp. - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 380.783 million for Lucara Diamond Corp. is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Lucara Diamond Corp. at the current share price and the inputted number of shares is $1.0 billion.

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