REG - Gem Diamonds Limited - Q1 2025 Trading Update

Gem DiamondsAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250430:nRSd7178Ga&default-theme=true

RNS Number : 7178G  Gem Diamonds Limited  30 April 2025

30 April 2025
 

 

GEM DIAMONDS LIMITED

Q1 2025 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 2025 to 31 March 2025 ("Q1
2025" or the "Period").

 

Highlights:

·    The highest price achieved in the Period was US$26 441 per carat for
a 67.50 carat white diamond.

·    Two diamonds sold for more than US$1.0 million each, generating
aggregate revenue of US$3.5 million during the Period.

·    All operational and financial metrics are trending within issued
guidance for 2025.

·    Post the Period, two greater than 100 carat Type I diamonds (194.52
carats and 109.95 carats) were recovered at Letšeng that will be sold in Q2
2025.

 

Letšeng Diamonds production summary:

During the Period, production was primarily sourced from the lower-grade,
lower-value Main Pipe, with a lower contribution from the higher-grade,
higher-value Satellite Pipe, in line with the 2025 mine plan.

 

The "Large" diamond tender in the Period was held over because of US tariff
uncertainty. These goods are scheduled to be sold in Q2. Carats sold, Total
value (US$ millions) and US$/carat as set out in the table below include an
estimated value of these goods for comparative purposes.

                                       Q4          Q1          %

                                       2024        2025        Change
 Waste tonnes stripped                 1 037 800   864 672     -17%
 Ore tonnes treated                    1 291 433   1 245 674   -4%
 Satellite pipe contribution (tonnes)  542 916     410 964     -24%
 Carats recovered                      24 461      23 578      -4%
 Grade recovered (cpht)                1.9         1.9         0%
 Carats sold                           26 356      20 470      -22%
 Total value (US$ millions)            32.2        21.6        -33%
 US$/carat                             1 223       1 055       -14%

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) 20 777 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)

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTPKCBQKBKBKQB