NOTIFICATION OF H1 2013 TRADING UPDATEBack
23 Jul 2013
Gem Diamonds Limited (LSE: GEMD) will be reporting its H1 2013 Trading Update for the period 1st January 2013 to 30th June 2013 at 07:00am BST on Monday 29th July 2013.
For further information:
Gem Diamonds Limited
Sherryn Tedder, Investor Relations
Tel: +27 (0) 11 560 9600
Mob: +27 (0) 83 943 4505
Pelham Bell Pottinger
James MacFarlane / Joanna Boon
Tel: +44 (0) 20 7861 3232
About Gem Diamonds:
Gem Diamonds is a leading producer of high value diamonds. The Company owns 70% of the LetÅ¡eng mine in Lesotho as well as the Ghaghoo mine, currently in development in Botswana. The LetÅ¡eng 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 Diamondsâ€™ acquisition of LetÅ¡eng 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 LetÅ¡eng 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.