Shares in Lucara (LUCRF) soared 32% after it unveiled a stone of 1,111 carats — which it says is the biggest gem quality diamond found in more than 100 years.
The stone was only found on Monday, and the company hasn’t yet decided when or how to sell the stone into the market. And it’s impossible to price at this stage.
Lucara also uncovered two “exceptional” white diamonds, estimated at 813 carats and 374 carats, at the same mine.
Lucara says the diamond was found in its Karowe mine in the southern African nation of Botswana, which has been up and running since 2012.
The largest gem quality diamond was the 3,106 carat “Cullinan Diamond” found in South Africa in 1905. From that was cut the “First Star of Africa” which now adorns the Royal.
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