Gem Diamonds discovers of 553 carat diamond
By Jana Weigand
Published: Aug 31, 2011 11:26 a.m. ET
JanaWeigand
LONDON (MarketWatch) -- Gem Diamonds Limited (GEMD.LN), the diamond company, Wednesday announced the recovery of an historic 553 carat Type II D color diamond from the Letseng Mine in Lesotho, which is currently undergoing analysis in Antwerp.
MAIN FACTS:
-Diamond, which is yet to be named, ranks as the 15th largest white diamond ever to be recovered.
-It is the fourth historic diamond recovered from the Letseng Mine in recent years, following the recovery of the 603 carat Lesotho Promise, the 493 carat Letseng Legacy and the 478 carat Light of Letseng.
-Shares at 1255 GMT up 3.90% at GBP2.1 valuing the company at GBP296 million.