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