Gem Diamonds reports good recoveries in H1
London-listed Gem Diamonds delivered a solid performance in the six months ended June 30, with 58 831 ct of diamonds recovered and 55 124 ct sold.
That compares with the 57 504 ct recovered and the 55 939 ct sold in the first half of 2020.
For the six months under review, the company generated revenues of $104-million and realised an average price of $1 886/ct, compared with revenues of $115-million and an average realised price of $2 057/ct achieved in the six months ended June 30, 2020.
Gem Diamonds recovered three diamonds greater than 100 ct in the six months under review, including high-quality Type IIa white diamonds weighing in at 367 ct and 254 ct, respectively.
The highest price per carat achieved in the period was $119 886 for a 3.35 ct pink diamond, while ten diamonds sold for more than $1-million each.
Gem remains on track to meet its full-year production guidance, which is set at between 123 000 ct and 127 000 ct.
The company owns 70% of the Letšeng diamond mine, in Lesotho.
CEO Clifford Elphick says it is pleasing to see demand for Letšeng’s high-quality diamonds continue the upward momentum from late 2020, with strong prices achieved in the six months under review.
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