A 227 High Quality Carat Diamond is Discovered in Angola

Image Source: Lucapa Diamond Co. Ltd

Australian listed company Lucapa Diamond Company Limited (ASX:LOM) together with its partners announced on Monday 13 February 2017 the recovery of a 227 carat diamond from Lulo Diamond Project in Angola.

Testing on a Yehuda colorimeter has confirmed the 227 carat diamond is a premium-quality Type IIa D-colourgem. This finding has come after a year since the largest 404.2 carat white diamond was discovered and was later sold for $16 Million.

According to the company the 227 carat diamond was recovered from a new mining area at Lulo which is 4km

from the prolific Mining Block 8 area. According to the MD Stephen Wetherall, ‘this further underlines the potential there is for the remainder of the 50km stretch of the Cacuilo River to continue to produce large valuable alluvial diamonds.’
The valuable stone is yet to be valued by the company’s valuers but is estimated to be worth in excess of the cost of the new XRT large-diamond recovery technology unit which was successfully installed and commissioned at Lulo during the December 2016 Quarter.
Shares in the listed company are currently trading at 0.40 AUD/share. (1 year chart below)
Source: (Lucapa Diamond Co., Kenyan Wall Street, FT)