Diamonds as big as a golf ball... now Gem Diamonds prepares to add polish

(thisismoney.co.uk) - The vast majority of diamond engagement rings are less than a carat in weight but still look suitably impressive on a bride-to-be’s finger. The Letseng diamond mine in Lesotho is in another category. Renowned for producing the most spectacular stones in the world, its finds include seven weighing between 300 and 600 carats in the past decade, the biggest of which were larger than a golf ball. And it routinely finds diamonds of 25 carats and above – well beyond the reach of even the most ardent groom. Letseng is owned by Gem Diamonds and it operates at the rarefied end of the market, selling stones to the ultra-rich in discreet tender operations held eight times a year in Antwerp, Belgium. The firm was tipped by Midas in July 2014 at 192p. Today, the stock is 116¼p, having fallen to below 100p in the early part of last year. Shareholders have been let down, but prospects are looking up and the stock should gain ground considerably over the next year and beyond.