The news comes after the company secured a 35-year licence in November, to mine alluvial diamonds at Lulo.
The licence covers 218km² area where the company has been recovering alluvial diamonds from its
bulk sampling activities.
For the diamond mining, Lucapa is looking at various debt financing options to fund the Phase I optimization and technology improvements in 150 ton per hour treatment plant and recovery plant.
As part of the plan, Phase 1 mining throughput will be increased monthly to 14,000 bulk cubic metres (bcm) per month within the first half of 2015. Funding for this ramp up will be obtained through the sale of a third parcel of diamonds during the first quarter of 2015.
Lucapa CEO Stephen Wetherall said that mining under Phase I would focus on select areas within the mining licence area that produced higher grades during the alluvial bulk sampling programs.
"The pits we have bulk sampled to date have delivered an overall average grade of just under 11 carats per 100m3."
As a second phase capacity increase, mining activities are expected to be ramp up to supply gravels for a targeted plant throughout rate of 40,000 bcm per month.
