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The mining license for Aappaluttoq was transferred after True North Gems entered into voluntary bankruptcy last fall.
Gem Diamonds recovered the stone and also recently sold a 114-carat diamond and a nearly 9-carat pink from the same mine.
Pallinghurst Resources wants to buy the 53 percent of the colored gemstone miner it doesn’t already own.
The diamonds will be cut from rough from the company’s mines and sold via De Beers Auction Sales.
The colored gemstone miner said it has opted to focus on its projects in Africa.
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