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.

Couldnt find a thread on these so started one.

Results out tomorrow and positive write up in the Times today.

Anybody hold or any views on this company?

Results tomorrow - not today. 6% up this morning.

Gem Diamonds Limited (LSE: GEMD) announces that it intends to release its full year results for the year ended 31 December 2011 at 7am BST on Tuesday 20 March 2012.

confess i thought there was a thread on these guys
for no good reason i cannot get excited about diamond miners, but i'm sure i saw some good press about these boys in the w/e press
certainly today's stellar peformance indicates that at least others believed it, but whether it is all now too far too fast with drop on results, only time will tell

Gem Diamonds sparkles after record full-year results
20th March 2012
Gem Diamonds reported revenue of $396m in the year to end-December, up 49% from the previous year. Underlying EBITDA was $180m, up 119%, and attributable net profit was $68m, up 235%, after record production.

Basic EPS from continuing operations was of 47 US cents, up 213%.

Cash on hand at year end was $159m.

The company reported Letšeng record carat production of 112 367 carats, up 24% and recovered grade of 1.62 cpht, up 35% during 2011.

The company has approved a $280m Letšeng production expansion project (Project Kholo) given in November 2011.

The 550 carat Letšeng Star was sold in October 2011 into a partnership arrangement for $16.5m in the rough.

The sales and marketing strategy delivered significant margin uplift.

Clifford Elphick, CEO, said: "Gem Diamonds reports record results for the 2011 year, both operationally and financially. The record earnings per share and carat production at Letšeng were the result of the successful implementation of a series of strategic work streams and initiatives directed at improving operational efficiencies, managing and controlling mining costs and growing revenues through the 'smart sale' of the Company's rough and polished diamond production. 2011 saw several exceptional diamond discoveries at Letšeng, including the 550 carat Letšeng Star and we continue to see strong demand for our high quality diamonds from both developed and emerging markets, despite the backdrop of challenging times for the global economy.

"Our clear focus is on generating value for shareholders from our core mining assets at Letšeng and Ghaghoo. The $280m expansion project at Letšeng will confirm its position as the world's leading producer of high quality diamonds and the Ghaghoo mine development project in Botswana is also well under way. We look forward with confidence to delivering value for our shareholders during the coming years."
Story provided by StockMarketWire.com

UPDATE 1-Gem Diamonds unearths 'exceptional' diamond in Lesotho
* 198-carat white diamond recovered from Letseng mine * Company says diamond will fetch "exceptional price" this year * Panmure Gordon analysts estimate price of $10-15 mln * Shares rise more than 7 pct (Adds details, analyst comment, share price) By Roshni Menon Aug 5 (Reuters) - Gem Diamonds Ltd GEMD.L said it has recovered a 198-carat white diamond from its flagship mine in Lesotho that should fetch "an exceptional price" when sold this year. The company's shares rose more than 7 percent to rank among the top gainers on the London Stock Exchange on Tuesday. Gem Diamonds recovered the type IIa diamond from its Letseng mine at the end of July. The company said the diamond displays no fluorescence. ID:nRSE2092Oa The Letseng mine, in the Maluti mountains of Lesotho, is known for its large white diamonds. Since Gem Diamonds acquired a 70 percent stake in 2006, the mine has unearthed four of the 20 largest white gem-quality diamonds ever recorded. The government of Lesotho owns the other 30 percent. "The recovery of this large, high-quality white diamond continues to support the Letseng mine's reputation as the most important source of exceptional quality, large diamonds," Gem Diamonds Chief Executive Clifford Elphick said in a statement. Analysts at Panmure Gordon said the diamond could be sold for "in excess of $10 million and possibly as much as $15 million", based on the price of similar stones from Letseng sold since 2010. At a tender in February, Gem Diamonds sold a 162.02-carat diamond for $11.1 million and a 161.31-carat stone for $2.4 million. Both diamonds were recovered from Letseng in January. ID:nRSE5029Ba "On that basis, a 198-carat diamond would be in the range of $2.9 million to $13 million," analysts at Numis wrote in a note, adding that the price would depend on colour, clarity and expected polished yield. "Either way, (it's) another nice cherry plucked from the Letseng cake," they wrote. Gem Diamonds, which is also developing a mine in Botswana, reported revenue of $212.8 million in 2013. The company's shares were up 5.7 percent at 197 pence at 0835 GMT.

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.