Lucara up 24% pct on huge diamond find, garners worldwide coverage
So this is what your stock looks like when you announce that you have recovered the world's second-largest diamond.
Lucara Diamond's stock was up 24.2% to $2 a share as of 12:17 p.m. EST. The 52 week range is $1.42 to $2.45.
Yesterday Lucara (TSE:LUC) said it recovered a 1,111 carat gem-quality diamond from its Karowe Mine in Botswana.
The stone, which Lucara claims is the world's second largest gem quality diamond ever recovered, measures 65mm x 56mm x 40mm in size.
Experts aren't willing to guess the ultimate worth of the diamond.
"It is almost impossible to estimate a value for such an extraordinary stone given that a valuation is highly dependent on the color, clarity and cutting and polishing characteristics," Bloomberg quotes Edward Sterck, a London-based analyst at BMO Capital Markets.
The news was carried widely with coverage on most major news outlets.