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Gem Diamonds revenue falls in Q1 on lower sales
StockMarketWire.com
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Diamond producer Gem Diamonds reported a fall revenue in the first quarter of the year as sales fell offsetting higher production and prices.
For period between 1 January 2021 and 31 March 2021, carats sold fell to 26,916 from 29,298, while production increased to 29,010 from 26,110 year-on-year.
The average price rose to US$1,630 per carat from US$1,615 per carat last year.
'Although the production from the mining mix was not as impressive as the second half of 2020, with fewer large diamonds recovered due to the areas accessed under the mining plan, prices achieved on a like for like basis remained strong for Letseng's high value diamond production,' the company said.
The 2021 production guidance remained on target, it added.
At 10:02am: (LON:GEMD) Gem Diamonds Ltd share price was 0p at 36.7p
Story provided by StockMarketWire.com
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