Corporate profile

Gem Diamonds is a leading global diamond producer with a focus on high value diamonds.

Our production portfolio comprises kimberlite and lamproite mines in Lesotho and Australia, and a mine development project in Botswana. Both production mines are world-leaders in production of the highest quality, highest value gems: remarkable whites from the Letšeng mine in Lesotho; fancy yellow diamonds from Ellendale in Australia. This production positions us strongly in a segment of the market expected to generate attractive returns over the long term.

We have a clear and consistent growth strategy, based on development of our existing assets and carefully targeted acquisition. Our strategy has been implemented with a view to capitalising on the steady improvement in the diamond market seen during 2010-11 and the supply demand dynamics which are expected to continue for the foreseeable future.

As of the end of December 2010, Gem Diamonds employed 1,735 people, directly and contracted, across three continents.

Here's a couple of pictures of the 162 carat diamond:



eg.

"Will you marry me?"

"Yes."

So he slides the engagement ring onto her finger bracelet onto her wrist.

Worth keeping an eye on all the same...

StockMarketWire.com
Operations at Gem Diamonds' Letaeng mine in Lesotho have been disrupted by excessive snow falls and severe winds.

The company says that following damage to the overhead power lines, standby generators installed at the mine have been used to mitigate some of the impact, allowing the plants to operate, albeit at reduced rates.

The Lesotho Electricity Company (LEC) is currently on site carrying out repairs to damaged overhead power lines. External power supply is expected to be fully restored in the short term. Full Year guidance for ore tonnes treated and operating costs may need to be re-assessed but due to the strong operational performance in H1, carats recovered are not expected to be affected materially. The board will provide an updated view of the current year's operational guidance with the announcement of the Company's Half Year Results. Full Year carats recovered will likely be within original guidance. Letaeng has provided accommodation and food to approximately 250 local people who were unable to cope during the severe weather. The Deputy Prime Minister and a government delegation have visited the mine and thanked the management for its assistance to villagers during this difficult period.

StockMarketWire.com
Gem Diamonds Limited (GEMD) has announced the recovery of an 'exceptional quality' 149 carat, D colour Type IIa diamond, with 'excellent shape', from the Letseng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world.

According to the company this is the fourth high quality diamond of over 100 carats recovered so far this year, and follows closely upon the recovery of the 'exceptional' 910 carat diamond announced on 15 January 2018.

StockMarketWire.com
Gem Diamonds said it boosted sales volumes during the fourth quarter compared to the third, while getting a higher price for its gems.

The company said it sold 31,476 carats during the three months through December, up 21% from 25,909 carats in the third quarter.

It achieved an average sale price of $2,217 per carat, up 19% from the second quarter, helping sales revenue rise by 45% to $69.8m.

The company also said that production slipped slightly, by 1%, to 30,560 carrots recovered.