GEMD.L

Gem Diamonds Ltd.
Gem Diamonds Limited - Q3 2024 Trading Update
23rd October 2024, 06:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 1926J
Gem Diamonds Limited
23 October 2024
 

23 October 2024                                                                                                                                              

 

GEM DIAMONDS LIMITED

Q3 2024 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 July 2024 to 30 September 2024 ("Q3 2024" or the "Period").

Highlights:

·    The highest price achieved in the Period was US$45 537 per carat for a 10.98 carat pink diamond.

·    26 617 carats were sold during the Period (Q2 2024: 24 422 carats), generating revenue of US$42.7 million (Q2 2024: US$34.8 million) and achieving an average price of US$1 603 per carat (Q2 2024: US$1 424 per carat).

·    Six diamonds sold for more than US$1.0 million each, contributing US$22.6 million to the revenue for the Period.

·    Five greater than 100 carat diamonds were recovered during the Period bringing the total year to date recoveries of greater than 100 carat diamonds to 13.

·    Carats recovered during the Period were 24 678 (Q2 2024: 25 366).

·    Four greater than 100 carat diamonds were sold during the Period.

·    All operational and financial metrics are trending within the revised guidance issued for 2024.

Letšeng Diamonds production summary:

 

Q2

 2024

Q3

 2024

2024

YTD

Waste tonnes stripped

1 472 888

 1 219 291

4 382 767

Ore tonnes treated

1 229 177

1 185 192

3 727 306

Satellite pipe contribution (tonnes)

506 916

535 890

1 646 538

Carats recovered

25 366

24 678

80 550

Grade recovered (cpht)

2.06

2.08

2.16

Carats sold

24 422

26 617

83 610

Total value (US$ millions)

34.8

42.7

120.5

Achieved US$/carat

1 424

1 603

1 441

 

FOR FURTHER INFORMATION:

 

Gem Diamonds Limited               

Kiki Constantopoulos, Company Secretary

ir@gemdiamonds.com

                                                               

Celicourt Communications

Mark Antelme / Felicity Winkles                                               

Tel: +44 (0) 20 770 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

 

 

 

 

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 or visit 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.
 
END
 
 
TSTQKBBBABDDKKB]]>
TwitterFacebookLinkedIn