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Tennis Ball-Sized Diamond May Net Lucara $35 Million, CEO Says

  • Sotheby's to auction the 1,109-carat diamond on June 29
  • Lucara expects to get up to 48% of proceeds after taxes
The Lesedi La Rona diamond.

The Lesedi La Rona diamond.

Photographer: Spencer Platt/Getty Images
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What’s a diamond the size of a tennis ball worth? For miner Lucara Diamond Corp., about $35 million and a fresh record for its stock.

The Vancouver-based company’s shares rallied after Sotheby’s estimated the biggest diamond unearthed in over a century -- a 1,109-carat gem-quality stone -- will fetch more than $70 million at an auction scheduled for June 29.