Gem Diamonds Limited (LON:GEMD) has announced the discovery of two more notable diamonds from the company’s Letšeng mine in Lesotho.
The small cap firm said it had recovered a high-quality 104.73 carat, D-colour Type IIa diamond and a 151.52 carat Type I yellow diamond from the mine.
Today's announcement follows recent Letšeng recoveries announced in May of an exceptional 80.58 carat D-colour Type IIa diamond and a 98.42 carat D-colour Type IIa diamond, as well as the recovery of a 114 carat D colour Type IIa diamond in April.
READ: Gem Diamonds hails quality over quantity following its latest major discovery
In lunchtime trading, Gem Diamonds shares were 3.3%, or 3p higher at 94.5p.
In a note to clients, analysts at SPAngel said: “The recovery of two more large, potentially very valuable diamonds from Letseng should enhance Gem Diamonds’ revenues; we look forward to learning the prices they achieve when they are sold."
The Letšeng mine is well-known for the production of large, top colour, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world.
At an average elevation of 3,100 metres (10,000 feet) above sea level, Letšeng is one of the highest diamond mines in the world.
Since Gem Diamonds acquired the operation in 2006, it has produced four of the 20 largest white gem quality diamonds ever recovered.
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