Notification of Q4 2012 Trading Update

RNS Number : 0457W

Gem Diamonds Limited

22 January 2013

 



22 January 2013

GEM DIAMONDS LIMITED

("Gem Diamonds" or "the Company")

Notification of Q4 2012 Trading Update

Gem Diamonds Limited (LSE: GEMD) will be reporting its Q4 2012 Trading Update for the period  1 October 2012 to 31 December 2012 at 07:00 GMT on Thursday, the 31^st January 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:

About Gem Diamonds:

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