The Lesotho Mine, did it again and ended the drought of large stones for Gem Diamonds Ltd. as two gigantic rough diamonds were unearthed. The two diamonds are both larger than 100 carats, of which one is a Type I yellow diamond. These findings are positive for the miner as it suffered from an absence of large diamond findings, while it found five diamonds over 100 carats last year. Sounds like a lot, but those five findings in 2016 are half of the amount of large diamonds Gem Diamonds found in 2015.
The unearthed colorless rough diamond is 104.73 carats, D color, and Type IIa and the yellow colored rough diamond weighs 151.52 carats and is a Type I, according to the company.
The two unearthed rough diamonds- Source Gem Diamonds Ltd.
The Lesotho Mine is well known in the industry for large rough diamonds of top color, especially colorless diamonds. The colorless diamonds are even the highest dollar per carat Kimberlite diamond mine in the world. The average diamond price of the diamonds is almost $2000 per carat.
After releasing these two findings on Monday shares gained 2.2$ rising to 93.5 a share.