478 Carat Diamond!

[Michael Alexander]

478-carat find by Gem Diamonds

By Stanley Pignal

Published: September 22 2008 03:00 | Last updated: September 22 2008 03:00

Gem Diamonds, the FTSE 250-listed mining company, is planning to report today the discovery of a near-flawless 478-carat diamond, which could become one of the largest polished gems in history.

The unnamed diamond was unearthed this month in the Letseng mine in Lesotho, and has now been analysed by experts.

Gems are difficult to value before being cut and set in jewellery, but the company pointed to a similar size stone of inferior quality that had sold for nearly £6m.

Gem Diamonds was founded in 2005 by Clifford Elphick, a former De Beers executive, and the following year it bought the Letseng mine. The find will confirm the group's reputation for finding diamonds of unusual size. Letseng has yielded two of the largest diamonds found this century, in 2006 and 2007

[Bertie Horak]

Probably a little too big for a ring? Harry could've made thousands of gramophone needles from that one!  Too bad we're now using CD's.

[Skinny]

  saw a picture of the stone on the news today (sky). It looks superb, wish they could find bigs ones like that at Namdeb, then we will have no more problems.

[Michael Alexander]

There is talk over the years, that there indeed could have been a COUPLE OF BIG ones on this mine, but due to the size being set on the screens, they in all likelyhood landed up on the dumps......

[Skinny]

@ MIKE,
Wanna open a retreating of the dumps project?

[Michael Alexander]

Mmmmh!  I will have to ask Michele first.....! 

[Cherry (Alcock)]

Does anyone know if this is the same mine that Keith Whitelock is involved with?

[Michael Alexander]

Yep! Yep!  that was the mine that Keith went to after he left DeBeers....

[Diana Rudd (Boehme)]

Stephen was transefered to Letseng from O'mund in the 80's. Keith was the G.M. there at the time.
A beautifull mine...had my first white Christmas up there...very festive.

[Michael Alexander]

I wonder if this diamond is worth as much today as what it was when first found, with all the current global financial mess?