Notification of Q3 2016 Trading Update

RNS Number : 1717O

Gem Diamonds Limited

03 November 2016

 

3 November 2016           

GEM DIAMONDS LIMITED

("Gem Diamonds" or "the Company")

Notification of Q3 2016 Trading Update

Gem Diamonds Limited (LSE: GEMD) will be releasing a Trading Update for the period 1 July 2016 to 30 September 2016 at 07.00 GMT on Thursday, 10 November 2016.

For further information:

Gem Diamonds Limited

Juliet Cox (née Kirk), Investor Relations

Tel: [phone]

Celicourt Communications

Mark Antelme / Joanna Boon

Tel: [phone] 

About Gem Diamonds:

Gem Diamonds is a leading global diamond producer of high value diamonds. The company owns 70% of the Letšeng mine in Lesotho and 100% of the Ghaghoo mine 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 twenty largest white gem quality diamonds ever recorded.

Gem Diamonds has a growth strategy based on the expansion of the Letšeng mine and bringing the Ghaghoo mine into production, 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 industry over the medium to long term, particularly at the high end of the market supplied by Gem Diamonds, this strategy positions the Company well to generate attractive returns for shareholders in the coming years.

www.gemdiamonds.com 

 

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