Merlin has just unearthed Australia’s fifth largest diamond
Merlin Diamonds (ASX:MED) has unearthed Australia’s fifth largest diamond from its namesake mine in Australia’s Northern Territory, currently in the ramp up phase.
The company said the 35.26 carat brown diamond was among a number of rough gems found at its Merlin mine, including a 14.6 carat brown rock as well as a number of smaller white diamonds.
Shares in the company jumped 7% to $0.015 after the announcement.
Last month, the company found a very rare blue coloured diamond, believed to be the first blue gem produced at Merlin.
Blue diamonds are even more unusual than pink ones, normally found at Rio Tinto’s Argyle mine in Western Australia.
In June last year, a massive intense blue diamond, known as The Cullinan Dream, fetched $25.4 million at a Christie’s auction in New York, breaking all records and becoming the most expensive gem of its kind ever sold at auction.
Australia’s largest diamond, a 104.73 carat stone, was discovered at Merlin, which was run by Rio Tinto and Ashton Mining between 1999-2003, before being acquired in 2014 by Merlin Diamonds, formerly North Australian Diamonds.