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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Shares in Gem Diamonds shine on 'remarkable' recovery

(Sharecast News) - Gem Diamonds has recovered a 212 carat precious stone, the miner confirmed on Wednesday, sending its shares higher.

The London-listed miner, which has a 70% stake in the Letseng mine in Lesotho, said a "remarkable" 212.49 carat type II white diamond had been recovered at the site on 28 May.

As at 0945 BST, the stock had jumped 5% at 13.15p, having earlier added as much as 8%.

It is the sixth greater-than-100 carat diamond Gem has recovered this year. The Letseng mine is known for the production of large, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mind in the world.

Last month Gem - a specialist in high value diamonds - discovered at 169.15 carat diamond at the southern African site.

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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