Petra Diamonds (LON:PDL) shares recovered some sparkle Thursday after the company announced it had sold an ‘exceptional pink’ diamond for $15 million, or $463,965 per carat.
The stock was up more than 2% in afternoon trading in London to 109.75p, and it has gained about 25% to date since the beginning of 2016.
It was found in November at Petra’s Williamson mine in Tanzania.The 32.33-carats diamond was recovered in November from the firm’s Williamson mine in Tanzania.
Golden Yellow Diamonds purchased the rock on behalf of Israel-based diamond manufacturer, M.A. Anavi Diamond Group, which specializes in large and unique coloured diamonds.
Petra Diamonds, known for major findings in recent months, said it would retain a 10% interest in the polished proceeds.
The company, which owns the Finsch and Cullinan mines, posted last month a loss for the first half of its financial year as fewer sales demand and a glut of supply pushed rough diamond prices down by 9%.