REG - Gem Diamonds Limited - Q1 2024 Trading Update

Gem DiamondsAnnouncement

25/04/2024 07:00

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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          Q4           %

                                       2024        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 (mailto: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 (http://www.gemdiamonds.com)

 

 

 

 

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