Iridescent ring, fourth valuable lost by Hanson (7)
I believe the answer is:
opaline
'iridescent' is the definition.
(I know that iridescent can be written as opaline)
'ring fourth valuable lost by hanson' is the wordplay.
I cannot really see how this works, but
'ring' could be 'o' (letter resembling a ring) and 'o' is located in the answer.
'lost' could be 'l' (abbreviation in sporting league tables) and 'l' is present in the answer.
The remaining letters 'paine' is a valid word which might be clued in a way I don't see.
This may be the basis of the clue (or it may be nonsense).
Can you help me to learn more?
(Other definitions for opaline that I've seen before include "white!" , "like a stone" , "Milk glass" , "whitish glass" , "of stones" .)