Merlin Diamonds Limited (ASX:MED)
Credited with Australia’s largest diamond find, Merlin Diamonds (ASX:MED) is an ASX-listed sparkler still in its infancy on its way to becoming a dominant diamond producer.
MED, which has assets in the Northern Territory and Western Australia, also wields Australia’s 5 th largest diamond discovery of 35.26cts, extracted in January 2017.
The company is now ready to start production using a Tomra XRT sorter, which enables MED to recover large diamonds up to 40mm in size, which wasn’t previously possible. This means MED could once again manifest high-carat rough diamonds at a consistent rate, outscoring much larger mining operations around the globe.
A new processing plant will be able to process ore up to 40mm in size compared to the previously used 20mm. It is expected that the new processing technology will also improve diamond recovery efficiencies and costs.
MED is a diamond explorer working at the sharp end of diamond commercialisation, and its operations are gathering pace.
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MED’s decision to upgrade its processing capabilities via XRT, provides an solid opportunity for MED to recover diamonds that are larger than previously recovered in a cost-effective manner.
Here is a diamond in the rough, which will hopefully become a polished ASX jewel in the years to come.