Notification of Interim Management Statement

RNS Number : 5935S

Gem Diamonds Limited

11 November 2013

 



11 November 2013

GEM DIAMONDS LIMITED

("Gem Diamonds" or "the Company")

Notification of Interim Management Statement

Gem Diamonds Limited (LSE: GEMD) will be reporting its Interim Management Statement  for  the Period 1 July 2013 to 14 November 2013 at 07:00 GMT on Friday 15 November 2013

For further information:

Gem Diamonds Limited

Sherryn Tedder, Investor Relations

Tel: [phone]

Mob: [phone]

Bell Pottinger

Charles Vivian / James MacFarlane

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

 

END

 

 

MSCLLFEVLILTIIV