Gem Diamonds Witness Massive Jump in Shares after Sale of 2 Precious Diamonds
A gigantic jump has been witnessed by Gem diamonds in its shares. Gem Diamonds has been able to sell two stones that they have extracted from the world's highest diamond mine, Letseng mine in Lesotho.
The news has led the company to witness a jump from 2.5p to 153.5p. The first stone was a unique and beautiful blue-colored diamond worth 12.47 carat. It has been sold at an auction in Antwerp for $7.5m.
Experts were of the view that blue-colored diamond is quite sought after. Therefore, it has been sold at such a price.
The second stone was a sheer white diamond, which was a huge 82-carat. It has been sold for $4.8m. Gem Diamonds has not unveiled about the buyers of the two diamonds.
There is no doubt about the fact that prospecting for diamonds is not an easy task. But once work gets done then the success leads to great rewards.
Gem Diamonds' Chief Clifford Elphick, was of the view, "Letseng continues to achieve such outstanding prices for its exceptional diamonds and we continue to expect recovery of such high quality diamonds".
Mr. Elphick has informed that they will soon start using higher value Satellite pipe, so that they pay more attention towards mining.
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