16th Aug 2021 10:34
(Alliance News) - BlueRock Diamonds PLC on Monday said it had discovered a 58.6 carat stone at its Kareevlei Diamond Mine.
BlueRock Diamonds is a London-listed diamond producer that owns Kimberley, South Africa-based Kareevlei.
Shares were up 17% at 47.25 pence each in London on Monday morning.
The company expects the diamond's sale value will be "significant" due to it being a 'D' colour "makeable stone". Diamond colours can change during the polishing process, and thus are labelled by letters from 'D' down to the end of the alphabet. A diamond labelled 'D' is a top-end, colourless diamond.
The sale value of the stone is yet to be announced. Just last week, BlueRock Diamonds recovered a 21.6 carat stone. Both recoveries will be sold in the company's August tender.
Executive Chair Mike Houston added: "This is a very important discovery for BlueRock as it supports the 'size frequency distribution charts' that indicate our pipes will deliver large high value diamonds along with the highly sought after 'run of mine' parcel of diamonds which have secured values of over USD400 per carat in 2021."
In January, the company sold a 14.8 carat diamond for USD163,000. BlueRock updates the market when it recovers stones valued at over USD50,000.
By Josie O'Brien; [email protected]
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