It is a 1.39 carat mahenge spinel cut by Gene Flanigan at Precision Gems. It's described as: "Gem 637 - Red Spinel - 1.39 ct. This stone is from the Mahenge area of Morogoro Tanzania is a red with a slight purple pink. The photo looks a bit more red than in person. There is one inclusion in the top left corner that should be covered with a prong. Measures 7.82 x 5.85 mm Color 4, Clarity 4-"
And can you imagine LEON? Oh mamma! 
I think that setting would do nicely too. 
