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Gem Diamonds Ltd (GEMD.L)

GEMD.L on London Stock Exchange

69.00GBp
14 Dec 2017
Change (% chg)

-3.00 (-4.17%)
Prev Close
72.00
Open
71.75
Day's High
71.75
Day's Low
69.25
Volume
64,159
Avg. Vol
64,693
52-wk High
124.75
52-wk Low
68.50

Latest Key Developments (Source: Significant Developments)

Gem Diamonds ‍Updates On Ghaghoo Sale Process​
Tuesday, 12 Dec 2017 02:00am EST 

Dec 12 (Reuters) - Gem Diamonds Ltd ::‍UPDATE ON GHAGHOO SALE PROCESS​.‍DISCUSSIONS HAVE NOT RESULTED IN AGREEMENT BETWEEN PARTIES AND THIS OFFER HAS BEEN WITHDRAWN​.GEM DIAMONDS - PRESENTLY IN DISCUSSIONS WITH OTHER PARTIES INTERESTED IN ACQUIRING 100% OF GHAGHOO ASSET AND WILL UPDATE MARKET AS AND WHEN APPROPRIATE​.  Full Article

Gem Diamonds says Glenn Turner resigns as executive director
Wednesday, 15 Nov 2017 10:38am EST 

Nov 15 (Reuters) - GEM DIAMONDS LTD ::‍GLENN TURNER, AN EXECUTIVE DIRECTOR, RESIGNED FROM BOARD ON 14 NOVEMBER 2017​.‍BOARD ALSO APPROVED APPOINTMENT OF MR MICHAEL LYNCH-BELL AS SENIOR INDEPENDENT DIRECTOR​.  Full Article

Gem Diamonds says recovered ‍30,774​ carats in Q3 from Letšeng
Tuesday, 31 Oct 2017 03:00am EDT 

Oct 31 (Reuters) - Gem Diamonds Ltd ::RECOVERED ‍30,774​ CARATS DURING Q3 FROM LETŠENG VERSUS 24,388 CARATS YEAR AGO.GEM DIAMONDS LTD - ‍24 DIAMONDS SOLD FOR MORE THAN US$ 1.0 MILLION EACH GENERATING REVENUE OF US$ 56.9 MILLION IN NINE MONTHS TO SEPTEMBER 2017​.GEM DIAMONDS LTD - ‍GROUP HAD US$ 42.2 MILLION WORTH OF UNDRAWN AND AVAILABLE FACILITIES AT PERIOD END​.GEM DIAMONDS LTD - ‍NET DEBT POSITION OF US$ 11.8 MILLION AT END OF PERIOD (H1 2017 - NET DEBT OF US$ 14.2 MILLION)​.‍CARATS RECOVERED GUIDNACE FOR FY 2017 OF 110 - 114​ KCT UNCHANGED.GEM DIAMONDS - FY ‍OPERATING COSTS PER TONNE TREATED EXPECTED TO INCREASE.  Full Article

Gem Diamonds says ‍recovery of high quality 115 carat diamond​
Tuesday, 19 Sep 2017 02:00am EDT 

Sept 19 (Reuters) - GEM DIAMONDS LTD ::‍RECOVERY OF HIGH QUALITY 115 CARAT DIAMOND​.  Full Article

Gem Diamonds first-half underlying core earnings fall
Thursday, 17 Aug 2017 02:18am EDT 

Aug 17 (Reuters) - GEM DIAMONDS LTD ::H1 REVENUE 92.9 MILLION USD VERSUS 109.1 MILLION USD YEAR AGO.HY ‍REVENUE US$92.9 MILLION (US$109.1 MILLION IN H1 2016)​.HY ‍UNDERLYING EBITDA US$13.0 MILLION (US$43.5 MILLION IN H1 2016)​.CASH ON HAND AT HY END AT US$20.0 MILLION​.‍LETSENG CARATS RECOVERED OF 50 478 (57 380 CARATS IN H1 2016)​.‍AT THIS EARLY STAGE US$15 MILLION OF ANNUALISED EFFICIENCY AND COST REDUCTION INITIATIVES HAVE BEEN IDENTIFIED FOR IMPLEMENTATION FROM OCT​.‍CAPITAL AND CASH MANAGEMENT DISCIPLINE REMAINS A HIGH PRIORITY IN SHORT TERM​.‍OPTIONS FOR GHAGHOO ASSET WILL BE CONSIDERED AND FOCUS WILL REMAIN ON FURTHER OPTIMISING CARE AND MAINTENANCE COSTS​.HALF YEAR 2017 RESULTS.  Full Article

Gem Diamonds says Letšeng achieved average price of $1779 per carat in H2
Tuesday, 25 Jul 2017 02:00am EDT 

July 25 (Reuters) - GEM DIAMONDS LTD ::GROUP HAD $20.0 MLN CASH ON HAND AT END OF PERIOD TO JUNE 30 OF WHICH $16.1 MLN IS ATTRIBUTABLE TO GEM DIAMONDS.FOR LETŠENG ACHIEVED AN AVERAGE PRICE OF $1779 PER CARAT FOR PERIOD, UP 20 PCT FROM $1480 PER CARAT IN H2 2016.  Full Article

Gem Diamonds says recovery of high quality 126 carat diamond from Letšeng mine
Thursday, 6 Jul 2017 02:00am EDT 

July 6 (Reuters) - Gem Diamonds Ltd ::Recovery of high quality 126 carat diamond.Recovered high quality 126 carat, D colour type IIA diamond from Letšeng mine in Lesotho.  Full Article

Gem Diamonds says recovers diamonds worth 104.73 carat,151.52 carat diamonds
Monday, 12 Jun 2017 02:00am EDT 

June 12 (Reuters) - Gem Diamonds Ltd ::Recovery of 104.73 carat and 151.52 carat diamonds.Announce recovery of a high-quality 104.73 carat, d-colour type IIA diamond and a 151.52 carat type I yellow diamond from letšeng mine in Lesotho.  Full Article

GEM Diamonds says Letšeng treated total of 1.4 mln tonnes of ore during Q1
Tuesday, 23 May 2017 02:00am EDT 

May 23 (Reuters) - Gem Diamonds Ltd ::Recovery of a 98.42 carat high quality D-colour type ii diamond which will be sold in june.Sold 39 950 carats for an average price of US$1 636 1 per carat for first three tenders in 2017.Had US$ 29.2 million cash on hand at end of period at march 31.Had US$ 29.7 million worth of undrawn and available facilities at period end.Had US$ 29.7 million worth of undrawn and available facilities at period end at march 31.Waste mined during period was 7 811 416 tonnes and overall stripping ratio was 4.39 for period ended March 31.Letšeng treated a total of 1.4 million tonnes of ore during period ended March 31.Current average price achieved is up 13% from US$1 444 per carat achieved in previous period, Q4 2016.  Full Article

Gem Diamonds recovers 80 carat diamond in Lesotho
Thursday, 4 May 2017 02:00am EDT 

May 4 (Reuters) - Gem Diamonds Ltd ::Recovered high-quality 80 carat, D colour type II diamond from Letšeng mine in Lesotho.One of highest quality diamonds recovered at Letseng mine and is entirely undamaged making this a significant recovery - CEO.  Full Article