UK's Gem Diamonds dwindles on FY production forecast cut

Gem Diamonds

22/08/2023 08:27

** Shares of Gem Diamond Ltd  GEMD.L  down 5.5% at 15.5p 
    ** The Lesotho-focused diamond miner cuts annual forecast
for tonnes treated to 4.9m - 5.1m tonnes as power cuts dragged
volumes of ore processed
    ** Adds lower tonnes treated impacted unit costs
    ** Carats recovered in HY down 2% to 50,601 carats, HY rev
at $21 mln  
    ** Among top pct losers across all London shares 
    ** Up to last close, stock almost halved in value so far
this year 


    
   

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))