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- Lucapa Diamond Company (LOM) and its partners have announced the results from a cut and polish of a huge 46-carat pink coloured rough diamond
- The gem managed to deliver three polished diamonds, including a 15.2-carat heart-shaped diamond and two smaller pear-shaped diamonds
- The heart-shaped gem has been handed a clarity grade of VVS1, meaning it’s at the high end of the scale
- The original rough diamond was recovered by Lucapa’s own business, Sociedade Mineira Do Lulon (SML), at its Lulo Diamond Project in Angola
- It was then sold to SML’s preferred buyer Safdico International in March, with Lucapa to receive a cut of any future sale
- Shares in LOM are trading up 3.67 per cent at 5.7 cents each
Lucapa Diamond Company (LOM) and its partners have announced the results from a cut and polish of a huge 46-carat pink coloured rough diamond.
Lucapa’s biggest gem to-date, which was located at its Lulo Diamond Project in Angola, has managed to deliver three polished diamonds.
This includes a 15.2-carat heart-shaped diamond, which has been handed a high clarity grade of VVS1 by the Gemological Institute of America (GIA).
GIA also labelled the diamond as ‘fancy intense orangy pink’ and said it has excellent gradings for both polish and symmetry.
Additionally, the huge rough diamond also managed to deliver two smaller pear shaped diamonds, weighing 2.3 carats and 3.3 carats respectively.
The original gem was sold by Lucapa’s 40-per-cent-owned business, Sociedade Mineira Do Lulon (SML), who originally mined the diamond.
SML sold the gem to Safdico International in March, with the agreement stating that Lucapa’s mining vehicle would then receive a cut of any future sales.
“Pink coloured diamonds are rare and constitute less than 0.1 per cent of global diamond production,” Lucapa Managing Director Stephen Wetherall said.
“With the recent closure of the renowned Argyle underground mine in Australia, which produced around 90 per cent of the world’s natural pink diamonds, these diamonds are about to become even more scarce,” he explained.
“This bodes well for the sale of the 15.2-carat polished pink diamond and other diamonds derived from this unique value accretive polishing partnership,” Stephen concluded.
Shares in LOM are trading up 3.67 per cent, priced at 5.7 cents each at 1:09 pm AEDT.
