Notification of H1 2013 Trading Update

RNS Number : 8411J

Gem Diamonds Limited

23 July 2013

 



23 July 2013

GEM DIAMONDS LIMITED

("Gem Diamonds" or "the Company")

Notification of H1 2013 Trading Update

Gem Diamonds Limited (LSE: GEMD) will be reporting its H1 2013 Trading Update for the period  1^st January 2013 to 30^th June 2013 at 07:00am BST on Monday 29^th July 2013.

For further information:

Gem Diamonds Limited

Sherryn Tedder, Investor Relations

Tel: [phone]

Mob: [phone]

Pelham Bell Pottinger

James MacFarlane / Joanna Boon

Tel: [phone]

About Gem Diamonds:

Gem Diamonds is a leading producer of high value diamonds. The Company owns 70% of the Letšeng mine in Lesotho as well as the Ghaghoo mine, currently in development in Botswana. The Letšeng mine is famous for the production of large, top colour, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world. Since Gem Diamonds' acquisition of Letšeng in 2006, the mine has produced four of the top twenty largest white gem quality diamonds recorded.

Gem Diamonds has a growth strategy based on the expansion of the Letšeng mine and the development of the Ghaghoo mine, while maintaining its strong balance sheet. The Company seeks to maximise revenue and margin from its rough diamond production by pursuing cutting, polishing and sales and marketing initiatives further along the diamond value chain. With favourable supply/demand dynamics expected to benefit the diamond industry over the medium to long term, particularly at the high end of the market, this strategy positions the Company well to generate attractive returns for shareholders in the coming years.

www.gemdiamonds.com

 

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