Canadian mining company Lucara Diamond Corp (TSX:LUC) has recovered a massive 2,492 carat diamond from its Karowe mine in Botswana.
The company, whose shares leapt over 50% higher on the news, called it an "exceptional" stone and said it "reinforces Karowe's position as a truly world-class diamond mine".
Lucara says the remarkable find is one of the largest rough diamonds ever unearthed, detected by X-ray transmission (XRT) technology to identify and preserve high-value diamonds from processing kimberlite ore in what are still early years of the company's underground operations at the mine.
It is thought to be the second largest gem-quality diamond after the Cullinan diamond, which weighed about 3,106 carats in rough form when it was found in South Africa in 1905 before being split into around 100 small gems and nine large stones, two of which are now part of Britain's imperial state crown and sceptre.
Lucara CEO William Lamb said: "We are ecstatic about the recovery of this extraordinary 2,492 carat diamond.
"This find not only showcases the remarkable potential of our Karowe Mine, but also upholds our strategic investment in cutting-edge XRT technology. The ability to recover such a massive, high-quality stone intact demonstrates the effectiveness of our approach to diamond recovery and our commitment to maximizing value for our shareholders and stakeholders."