Notification of Interim Management StatementBack
23 Oct 2014
Gem Diamonds Limited (LSE: GEMD) will be releasing its second Interim Management Statement for 2014 on Thursday 6 November 2014 at 07:00 GMT.
For further information:
Gem Diamonds Limited
Sherryn Tedder, Investor Relations
Tel: +44 (0)203 043 0280
Mob: +44 (0)777 824 6321
Daniel ThÃ¶le/Lydia Eades/Joanna Boon
Tel: +44 (0) 203 772 2500
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. 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 Diamonds' 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.