Industry News by Nemesis

Study Reveals Potential of Star Diamond Project

March 5, 2019

 

Star Diamond Corporation has noted a large quantity of high-value and large rough stones at its two exploration sites in Canada, sending its stock price shooting upward. 

Nearly 27% of diamonds at its Star project are type IIa, a category that represents less than 2% of all rough diamonds mined from kimberlites, the company reported Monday. The proportion of that category at its Orion South kimberlite is 13%, it said following a major study of goods it had recovered from the locations. 

The company identified a 49.09-carat diamond from Star, and a 32.35-carat stone from Orion South. It also recovered two diamonds that were smaller but more valuable: An 11.96-carat stone from Star worth $11,333 per carat, and a 15.88-carat diamond from Orion South that it valued at $2,800 per carat. 

“The presence of two high-value diamond groups (octahedra and type IIa) greatly strengthens the future potential-production diamond pricing from the Star and Orion South kimberlites,” said George Read, Star Diamond’s senior vice president of exploration and development. 

The company’s share price rose 9% in early trading Monday.

Image: Rough diamonds from the Star and Orion South projects. (Star Diamond Corporation)

 

Source: Rapaport

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