News

Advanced Search

Canada Site Shows High-Value Potential

Mar 4, 2019 11:08 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... 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)
Tags: Canada, exploration, George Read, Orion South, Rapaport Magazine, Rapaport News, star, Star Diamond, Star Diamond Corporation
Similar Articles
Young Diamantaires South Africa Venetine mine visiNurturing the Next Generation of Diamantaires
Sep 12, 2019
If anyone in the industry wanted to know how to transform a diamond business and safeguard its future, they
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2019 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.