BlueRock Diamonds (LSE: BRD) jumped greater than 16% right this moment after the miner introduced it had found a 58.6-carat diamond at its Kareevlei mine, in Kimberley, South Africa.
The stone is the biggest diamond discovered so far at Kareevlei.
“The ultimate worth dependent upon the client’s confidence of what minimize stones could be recovered,” the corporate’s government chairman, Mike Houston, stated in a press release.
The invention comes solely every week after Bluerock recovered a 21.6-carat diamond from the identical mine.
“This can be a essential discovery for BlueRock because it helps the ‘measurement frequency distribution charts’ that point out our pipes will ship massive excessive worth diamonds,” Houston added.
The manager additionally famous that the “run of mine” parcel of diamonds recovered this 12 months have secured values of over US$400 per carat.
The 2 diamonds will probably be offered on the finish of the month, BlueRock mentioned.
Shares in BlueRock climbed to £47.22 in early morning buying and selling on the announcement and had been nonetheless up 10.6% at £44.8 by 2:30 p.m. GMT, leaving the miner with a market capitalization of £5.72 million (about US$7.9 million).
The corporate, which updates the market when it recovers stones valued at over US$50,000, fetched US$163,000 in January for a 14.8 carat diamond.