Author:Century Mining Database

Both Companies announced on Monday that 3 diamonds greater than 100 carats in size has been unearthed.
 
GEM Diamonds (Lon: GEMD) announced that two D color type IIa diamonds, 117 carat and 110 carats respectively,  have been unearthed at their flagship mine Letseng in Lesotho.  They have now increased the number of diamonds bigger than 100 carats mined in 2017 to total of 9.
 
Australian company Lucapa Diamonds (ASX: LOM) also discovered two diamonds weighing respectively 103 and 83 carats in their Lulo mine in Angola. Until now, Lulo mine has produced several massive finds, including the 404.2 carat stone discovered there last year, which is considered the largest diamond ever found in Angola.
 
Lulo mine is located 150Km away from the world's 4th largest diamond producer Alrosa Catoca mine.  It produces type IIa diamonds, which accounts for less than 1% of global supply.
 
After the announcement of these finds, both Company stocks soared.  GEMD increased by 7.2% last Monday, closing at 82 pence. LOM increased by 5%, closing at 21 cents.