Petra Diamonds Limited (LSE:PDL, OTC:PDLMF) shares climbed on Tuesday after it announced the recovery of a 41.82 carat Type IIb blue diamond at the Cullinan Mine in South Africa.
The company described the stone as “of seemingly exceptional quality in terms of both its colour and clarity”. Petra said it is analysing the stone and working to determine the preferred method of sale.
It added that further announcements on marketing of the stone will be made in due course.
Cullinan is known for the recovery of rare and highly valuable blue diamonds.
In London, Petra shares climbed around 14% changing hands at 19.38p.