13 August 2024
GEM DIAMONDS LIMITED
H1 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 January 2024 to 30 June 2024 ("H1 2024" or the "Period").
Highlights:
·
56 944 carats were sold during
the Period (H1 2023: 52 163 carats), generating revenue of
US$77.9 million (H1 2023: US$71.6 million) and achieving an average
price of US$1 366 per carat (H1 2023: US$1 373 per
carat).
·
Carats recovered during the Period were
55 873 (H1 2023: 50
601).
·
The highest price achieved in the Period was US$41
007 per carat for a 62.78 carat white diamond.
·
11 diamonds sold for more than US$1.0 million
each, generating revenue of US$29.5 million during the
Period.
·
Eight greater than 100 carat diamonds were
recovered during the Period of which six were sold in the period.
Post period end, a 145 carat type II white diamond was recovered
bringing the total recoveries of greater than 100 carats to nine
for the current year.
·
All operational and financial metrics are trending
within the original guidance issued in March for 2024.
Letšeng Diamonds production summary:
|
|
H1
2024
|
H1
2023
|
%
Change
|
|
Waste tonnes
stripped
|
3 163
476
|
4 846
680
|
-35%
|
|
Ore tonnes
treated
|
2 542 114
|
2 467
250
|
3%
|
|
Satellite pipe
contribution (tonnes)
|
1 110
647
|
1 269
987
|
-13%
|
|
Carats
recovered
|
55 873
|
50 601
|
10%
|
|
Grade
recovered (cpht)
|
2.20
|
2.05
|
7%
|
|
Carats
sold
|
56 944
|
52 163
|
9%
|
|
Total value
(US$ millions)
|
77.9
|
71.6
|
9%
|
|
Achieved
US$/carat
|
1 366
|
1 373
|
0%
|
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