Biggest Diamond in 100 Years Adds $150 Million to Miner
The company, Lucara (LUCRF) went up about 32% after it found a diamond that is worth 1,111 carats. This is the biggest gem quality diamond that has been found in more than 100 years. The stock market move added about $150 million to the value of the company. The stone was found on Monday, and the company doesn't know when or how to sell the stone into market yet. The company also found two "exceptional" white diamonds, which should be estimated to about 813 carats and 374 carats. The CEO thinks that it wouldn't be the best strategy to put all three on the market right away. Lucara says that the stone was found in its Karowe mine in the southern African nation of Botswana.
This is important because it means that there are a lot more precious stones out there that can be found. Especially large stones. Using the technology that we have now, will help us find more stones. Finding stones like this can help bring up the economy. I think that we should have more miners in America, because our stock market is low. Finding gems like this, will help our country get out of debt.
No comments:
Post a Comment