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Gem Diamonds Ltd (GEMD.L)

GEMD.L on London Stock Exchange

28 Feb 2017
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-0.25 (-0.21%)
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Latest Key Developments (Source: Significant Developments)

Gem Diamonds to place Botswana's Ghaghoo mine under maintenance
Thursday, 16 Feb 2017 03:16am EST 

Gem Diamonds Ltd : Update on the future of the Ghaghoo mine . Company's board has decided that Ghaghoo mine in Botswana will be placed on care and maintenance with immediate effect .Anticipated that, post once off settlement costs, this will result in an annualised care and maintenance cost of $3 million.  Full Article

Gem Diamonds says mood of diamond market continues to remain cautious
Monday, 6 Feb 2017 02:00am EST 

Gem Diamonds Ltd : Q4 2016 trading update . Full year operational guidance achieved . Group had us$ 30.8 million cash on hand as at 31 December 2016, of which us$ 28.5 million is attributable to gem diamonds limited. . At Letšeng, full year operational guidance achieved . At Letšeng: waste mined 7 861 775 tonnes (19 pct increase from 6 626 385 in q3 2016), taking full year waste mined to 29 776 058 tonnes. . At Letšeng, ore treated 1 697 070 tonnes (5 pct increase from 1 612 728 in q3 2016), taking full year ore treated to 6 646 098 tonnes. . Overall mood of diamond market continues to remain cautious . Review of Letšeng mine plan is currently being undertaken to further optimise waste mining profile which in turn will improve cashflow .This review will be completed during q1 2017 and is likely to lead to reduced waste tonnes mined..  Full Article

Gem Diamonds says H1 core earnings fall
Wednesday, 17 Aug 2016 02:00am EDT 

Gem Diamonds Ltd : H1 revenue 109.1 million usd versus $118 mln a year ago . Says H1 cash on hand of $66.5 mln as at June 30 2016 ($53.2 mln attributable to Gem Diamonds) . Says first half of 2016 saw a decline in number of +100 carat diamonds recovered at Letšeng compared to 2015 . Says ordinary dividend of 5 us cents per share ($6.9 mln) and special dividend of 3.5 us cents per share paid on June 14 . Says first sale of 14,114 carats achieved $160 per carat ($2.3 mln) . Second sale of 16,163 carats achieved $155 per carat ($2.5 mln) . Says H1 underlying EBITDA of $43.5 mln ($46.1 mln in H1 2015) . Says H1 attributable profit (before exceptional item) of $13.4 mln($15.4 mln in H1 2015) .Says H1 attributable loss of $26.6 mln and basic loss per share of 19.23 U.S. cents.  Full Article

Gem Diamonds says FY cost guidance may need to be re-assessed
Wednesday, 10 Aug 2016 02:00am EDT 

Gem Diamonds Ltd : Extreme weather conditions have recently been experienced across Maluti mountains in Lesotho, where Letšeng mine is located . With excessive snow falls and severe winds limiting access to mine . Full year guidance for ore tonnes treated and operating costs may need to be re-assessed . Full year carats recovered will likely be within original guidance . Following damage to overhead power lines, standby generators installed at mine have been used to mitigate some of impact, allowing plants to operate, albeit at reduced rates . External power supply is expected to be fully restored in short term .Due to strong operational performance in h1, carats recovered are not expected to be affected materially.  Full Article

Gem Diamonds says at Letšeng in H1 recovered 57,380 carats
Tuesday, 19 Jul 2016 02:00am EDT 

Gem Diamonds Ltd : At letšeng in h1 recovered 57 380 carats during period (50 019 carats in h1 2015) . At letšeng in h1 average grade achieved over period was 1.72 cpht (1.61cpht in h1 2015) .At letšeng in h1 average price of us$ 1 899 per carat achieved in h1 2016 (us$ 2 264 in h1 2015).  Full Article

Gem Diamonds says recommended once off special dividend
Tuesday, 17 May 2016 02:00am EDT 

Gem Diamonds Ltd : Had US$ 68.8 million cash on hand at end of period (excluding receipts from third tender), of which US$ 60.6 million was attributable to Gem Diamonds. .Also recommended a once off special dividend of 3.5 US cents per ordinary share (US$ 4.8 million) to shareholders..  Full Article

Gem Diamonds Ltd recommends maiden cash dividend
Tuesday, 17 Mar 2015 03:01am EDT 

Gem Diamonds Ltd:Recommends maiden cash dividend of $0.05 per share.Dividend is subject to shareholder approval at the scheduled AGM to be held on June 2, 2015, and would be anticipated to be paid on June 9, 2015.Record date May 8.  Full Article

More From Around the Web

Gem Diamonds mothballs mine in Botswana due to weak diamond market

Feb 16 Gem Diamonds Ltd said it would place its Ghaghoo mine in Botswana under care and maintenance with immediate effect due to a fall in diamond prices.