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Image courtesy of Lucapa Diamond.
Shares of Australian Lucapa Diamond (ASX:LOM) were momentarily halted Friday morning as the Australian Stock Exchange was waiting for a formal update on the recovery of a 32.2-carat white diamond from its Lulo mine, in Angola.
Later in the day the firm announced it had recovered the D colour massive diamond from a bulk sample approximately 1,600 metres south east of the priority Se251 kimberlite pipe.
A D colour is given to only the finest white diamonds; these are totally colourless and classified as “exceptional white”. The diamond measures 32x10x8mm, is of irregular dodecahedral shape, is the largest recovered through Lucapa’s new Dense Media Separation plant, and the fourth largest diamond recovered at Lulo to date. While the diamond appears flawless to Lucapa staff, this will need to be confirmed by independent examination.
Lulo, a joint venture between Lucapa and the Angolan government, hosts type-2a diamonds, which the company qualifies as “the world’s rarest and most valuable gems”. These kinds of precious rock account for less than 1% of global supply and, according to Lucapa, the world’s most famous large, white, flawless diamonds belong to this category.
