At 170 carats, the gemstone is one of the largest rough diamonds ever recovered globally and is believed to be the largest pink diamond recovered in 300 years.

 

The Lulu joint venture has now recovered 27 stones exceeding 100ct, with the Lulo Rose the fifth largest from the field.

 

The largest ever diamond recovered in Angola was the 404ct 4th February Stone, also from the Lulo concessions.

 

Lucapa managing director Stephen Wetherall said it was proof that Lulo was an "exceptional alluvial resource and is truly a gift". 

 

Lulu production in the March quarter was 5227ct, including 50 "special" diamonds exceeding 10.8ct, with the largest at 98c.

 

More recently, Lucapa and its partners have turned attention to exploring for kimberlites, with a number of targets priorities for priority bulk sampling.

 

The bulk sampling plant is being commissioned, with plans for two bulk samples every six weeks as the partners seek to locate the source of the alluvial diamonds.

 

The Lulo Rose will be sold via international tender by Angola's state diamond marketing company.

 

Lucapa shares were up 2% this morning to 5c, valuing the company at $70.5 million.

 

The stock has traded at 3.7-10c over the past year.