Petra Diamonds (LON:PDL) shares advanced on Wednesday as it announced the recovery of a significant high quality blue diamond at the Cullinan mine in South Africa.
The company said the rare 25.5 carat blue diamond was of ‘top colour’.
Back in 2009, Petra banked US$9.49mln from the sale of a seven carat polished stone, which was cut from a 26.6 carat blue diamond. That stone, named the ‘Star of Josephine’, through the Sotheby auction in 2009 was, per carat, the highest priced vivid blue diamond at that time.
In early trading, Petra shares were up 3.3p or 3% changing hands at 111p each.