Gem Diamonds unveils two 100+ carat finds in Lesotho

Gem Diamonds unveils two 100+ carat finds in Lesotho

Africa-focused Gem Diamonds (LSE:GEMD) has announced two significant diamond discoveries from its Letšeng mine in Lesotho, Southern Africa.

The first of the two massive specimens is a 151.52-carat Type I yellow rock, while the second also measured over 100 carats, being a 104.73-carat D-colour Type IIa stone.

Gem’s latest discovery comes hot on the heels of several recent high-quality finds, including an 80.58-carat D-colour Type IIa diamond and a 98.42-carat D-colour Type IIa stone, which were both unearthed last month.

In addition, the miner also discovered a 114-carat D-colour Type IIa diamond in April, which kicked off a successful three-month period of exceptional finds at the Letšeng mine.

The mine, located in enclaved nation Lesotho, is renowned for producing large, top colour white diamonds, and is the highest dollar per carat kimberlite diamond mine in the world, according to Gem.

In response to the announcement, shares in the miner closed 3% higher at 94.25p, with the discovery likely to resemble a big financial boon for the diamond miner.

@RGNonline