Tuesday, December 9, 2014

Gemfields unveils 40-carat ruby from Mozambique

Gemfields discovered a 40.23-carat ruby at its Montepuez ruby deposit in Mozambique--which it has called “one of the most important rubies unearthed in recent times”
While the yield from the rough depends on a number of factors, including the shape, inclusions, and the nature of the crystal, “one may assume yield of 30 percent to 40 percent. This should provide you with a 12 to 16 carat gem.”

The important question would be how clean the stone is and whether or not it requires heat treatment. A clean stone without heat treatment is more valuable. If this is the case, the piece of rough could yield a cut and polished ruby with a wholesale value of $1.5 million or more.
The stone is significant because it attests to the mine’s ability to produce important rubies since very little new material is trickling out of Burma.

Due to the rarity of rubies, the discovery of a 40-carat ruby is comparable to finding a 100-carat rough diamond.

See ----->http://pennystockjournal.blogspot.ca/2014/06/montepuez-ruby-deposit-mozambique.html
See ----->http://pennystockjournal.blogspot.ca/2014/11/graff-buys-pigeon-blood-ruby-for-record.html
See ----->http://pennystockjournal.blogspot.ca/2014/08/the-valley-of-rubies-mogok-myanmar.html