CAPITAL MARKETS

Lucapa's seven sparklers sell for $23M

LUCAPA Diamond Company is celebrating after the sale of seven large and top-quality diamonds weighing 498 carats from the Lulo alluvial mine in Angola fetched around US$16.7 million (A$22.9 million) under the African nation’s new diamond marketing policy.

One of Lucapa's stunning gems.

One of Lucapa's stunning gems.

While Lucapa's shares have been on the skids since September, they rallied on the sale news today, jumping 11.1% to hit A20c, valuing the company at $96 million. The gemstones were offered for sale...

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