Merlin Diamonds finds rare blue diamond

Source: Merlin Diamonds

Merlin Diamonds has recovered a rare blue diamond from its Merlin diamond operation in the Northern Territory.

The company said that although it was “only a small diamond at 0.124 carats” it demonstrates the potential for valuable coloured diamonds at Merlin.

It “is believed to be the first blue diamond produced at Merlin,” the company said in an ASX statement.

“Blue diamonds are one of the rarest diamond colours and high-quality blue diamonds are known to command prices higher than pink diamonds.”

Merlin is currently ramping up operations at the NT mine, which commenced pilot production in 2013.

The company also announced earlier this week that it had received applications for 144.8 million shares at $0.013/share to raise almost $1.9 million.