ASX-Listed Diamond Stocks

2. Burgundy Diamond Mines (ASX:BDM)

Market cap: AU$93.46 million; current share price: AU$0.36

Multinational diamond explorer Burgundy Diamond Mines is currently advancing its portfolio of projects in Botswana. The company also has an option agreement for the Naujaat project in Canada, which is operated by North Arrow Minerals (TSXV:NAR).

In addition to gem exploration, Burgundy also holds a stake in a Peruvian gold and silver project.

Shares of the firm are up by triple digits since January, with most of its gains occurring since late February. Most recently, Burgundy’s share price spiked 24 percent over a five day period following the release of the company’s half-year financial report.

4. Lucapa Diamond (ASX:LOM)

Market cap: AU$53.32 million; current share price: AU$0.06

Africa-focused Lucapa Diamond has had a stellar start to the year, recovering three 100+ carat diamonds since January. It also found a massive 215 carat stone in February.

The first quarter of 2021 has also seen Lucapa sell AU$7.7 million worth of gems recovered from its Mothae mine in Lesotho.

“As with the first sale of Mothae diamonds in 2021, prices achieved by SML at this sale continued to reflect the positive industry mood, and with sales from both operations in 2021 already totalling AU$15 million, it has been a solid start to the year,” said Managing Director Stephan Wetherall. Shares of Lucapa rallied 32 percent a few days later, but have since retreated.

Along with its successes, there have been some challenges for the firm. In January, the Mothae mine was temporarily shuttered as part of a nationwide COVID-19 lockdown.

5. Gibb River Diamonds (ASX:GIB)

Market cap: AU$17.98 million; current share price: AU$0.09

Gibb River Diamonds owns the Ellendale mine, one of Australia’s three diamond mines.

Located in Kimberley, Ellendale is a past producer and is known for its rare yellow stones. Roughly 1.3 million carats have been produced from Ellendale, and it is estimated that 50 percent of the world’s annual yellow diamond supply was once derived from the asset.

Gibb River acquired the project, as well as the mining and exploration leases for the area, in 2019. The company is in the process of raising capital to commence operations at Ellendale. In the meantime, Gibb River is advancing its Edjudina gold project in Western Australia.

The company’s current share value marks a year-to-date high.

6. Astro Resources (ASX:ARO)

Market cap: AU$13.98 million; current share price: AU$0.004

Astro Resources is an exploration company with projects in Australia and the US. The company’s Lower Smoke Creek diamond project is less than an hour away from Rio Tinto’s Argyle mine.

In a financial report, Astro states that it is actively exploring the Lower Smoke asset.

“The company is currently conducting exploration upon tenements considered prospective for diamonds,” the document reads. “No income has been derived from the recovery of diamonds in the period ending 31 December 2020.”

Astro also has a heavy metals project also in Australia and a gold project in Nevada.