BlueRock Diamonds discovers 58.6 carat stone

Executive chairman Mike Houston said: "We expect that the sales value of the 58.6 carat stone will be significant as it is a ‘D’ colour makeable stone but has spotted black sulphide intrusions with the final value dependent upon the buyer's confidence of what cut stones can be recovered."

The diamond will be sold in the August tender.

"This is a very important discovery for BlueRock as it supports the ‘size frequency distribution charts’ that indicate our pipes will deliver large high value diamonds along with the highly sought after ‘run of mine’ parcel of diamonds which have secured values of over $400 per carat in 2021," Houston added

SP Angel said the recovery of this large stone is particularly exciting for the company and its investors.

"It demonstrates the kimberlite geology is capable of producing larger stones of relatively good quality. We are also tempted to speculate that as the mining team dig deeper into higher-value phases within the kimberlite that further large stone recoveries will be made," it said.

At 1355 BST, the shares were up 14% at 46p.