Gem Diamonds Limited Q1 2024 Trading Update
April 25 2024 - 2:00AM
RNS Regulatory News
RNS Number : 9344L
Gem Diamonds Limited
25 April 2024
25 April
2024
GEM DIAMONDS LIMITED
Q1 2024 Trading Update
Gem Diamonds Limited (LSE: GEMD) ("Gem Diamonds" or the "Company" or the "Group") provides the following Trading
Update detailing the Group's operational and sales performance from
1 January 2024 to 31 March 2024 ("Q1 2024" or the "Period").
Highlights:
·
The highest price achieved in the Period was US$39
345 per carat for a 113.11 carat white diamond.
·
5 diamonds sold for more than US$1.0 million each,
generating revenue of US$18.6 million during the
Period.
·
Three greater than 100 carat diamonds were
recovered and sold during the Period.
·
Post period end a 169.15 carat white type II
diamond was recovered.
·
All operational and financial metrics are trending
within market expectations for 2024.
Letšeng Diamonds production summary:
|
|
Q1
2024
|
Q4
2023
|
%
Change
|
|
Waste tonnes
stripped
|
1 690
588
|
1 572 830
|
7%
|
|
Ore tonnes
treated
|
1 312
937
|
1 323
428
|
-1%
|
|
Satellite pipe
contribution (tonnes)
|
603 732
|
849 031
|
-29%
|
|
Carats
recovered
|
30 506
|
32 142
|
-5%
|
|
Grade
recovered (cpht)
|
2.32
|
2.43
|
-5%
|
|
Carats
sold
|
32 571
|
28 402
|
15%
|
|
Total value
(US$ millions)
|
43.0
|
36.4
|
18%
|
|
Achieved
US$/carat
|
1 321
|
1 281
|
3%
|
FOR
FURTHER INFORMATION:
Gem
Diamonds
Limited
Kiki
Constantopoulos, Company Secretary
ir@gemdiamonds.com
Celicourt Communications
Mark
Antelme / Felicity
Winkles
Tel: +44
(0) 207 777 6424
This announcement contains inside information
for the purposes of Article 7 of Regulation (EU) No
596/2014.
The Gem Diamonds Limited LEI number is
213800RC2PGGMZQG8L67.
ABOUT GEM DIAMONDS:
Gem Diamonds is a leading global
producer of high value diamonds. The Company owns 70% of
the
Letšeng mine in Lesotho. The Letšeng
mine is famous for the production of large, exceptional
white
diamonds, making it the highest
dollar per carat kimberlite diamond mine in the world.
www.gemdiamonds.com
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END
TSTSESFWLELSEIL
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