Business
185ct White Diamond Recovered
185ct White Diamond Recovered.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n RNS Number : 4127V Gem Diamonds Limited 02 November 2010 \n \n\n2 November 2010\n \nGem Diamonds Limited\n \nLetšeng Recovers A Further Exceptional White Diamond of 185 carats\n \nGem Diamonds Limited (LSE: GEMD) (Gem Diamonds) and the Government of the Kingdom of Lesotho are pleased to announce that a remarkable 185 carat rough white diamond was recovered from the Letšeng mine in Lesotho at the end of October 2010. \n \nThis exceptional rough diamond is the second of two large, top quality white diamonds to be recovered from the Letšeng mine in the last two months following the 196 carat white diamond which was recovered from Letšeng on 24 August 2010. Significantly, unlike Letšeng's other noteworthy diamonds which were recovered from the Satellite pipe, this diamond was recovered from Letšeng's larger Main pipe, demonstrating that the Main pipe is not to be underestimated for its ability to produce very large top quality diamonds. \n \nEarly examinations indicate that this rough diamond will yield top colour and top clarity polished diamonds and is thus expected to achieve a substantial price per carat.\n \nGem Diamonds' CEO, Clifford Elphick commented: \n\"Letšeng is one of the world's truly extraordinary diamond mines and its reputation is well deserved given the frequency with which it produces remarkable diamonds, including the latest two exceptional diamonds of 196 and 185 carats, as well as three of the world's twenty largest recorded diamonds since Gem Diamonds acquired the mine in 2006. Management remains focused on its strategy to substantially expand production at Letšeng in order to maximise value and increase the returns from this world class asset.\" \nFor further information:\nGem Diamonds Limited\nClifford Elphick, Chief Executive Officer\nGlenn Turner, Chief Commercial Officer\nTel: +44 (0) 203 043 0280\n \nRichard Chetwode, Investor Relations\nTel: +44 (0) 203 043 0280\nMob: +44 (0) 759 0064 883\n \nGem Diamond Technical Services Ltd\n \nSherryn Tedder, Media\nTel: +27 (0) 11 560 9618\nMob: +27 (0) 83 943 4505\n \nPelham Bell Pottinger\n \nJames MacFarlane\nTel: +44 (0) 207 861 3864 / +44 (0) 7841 672 831\n \nJames Henderson\nTel: +44 (0) 207 861 3160 / +44 (0) 7774 444 163\n \nCharles Vivian\nTel: +44 (0) 207 861 3126 / +44 (0) 79...