Business
Full Year 2016 Results
Full Year 2016 Results.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 4839Z Gem Diamonds Limited 15 March 2017 \n\nGem Diamonds Limited\nFull Year 2016 Results \n \n15 March 2017\n \nGem Diamonds Limited (LSE: GEMD) (\"Gem Diamonds\", the \"Company\" or the \"Group\") announces its Full Year Results for the year ending 31 December 2016 (the \"Period\").\n \n\n\n\n\nFINANCIAL RESULTS:\n \n\n\n\n\n· Revenue of US$189.8 million (US$249.5 million in 2015)\n\n\n\n\n· Underlying EBITDA of US$62.8 million (US$103.5 million in 2015)\n\n\n\n\n· Profit for the year US$32.3 million (US$67.4 million in 2015)\n\n\n\n\n· Attributable profit (before exceptional items) US$17.7 million (US$41.8 million in 2015)\n\n\n\n\n· Earnings per share (pre exceptional items), 12.8 US cents (30.2 US cents in 2015)\n \n· After the exceptional items of US$176.5 million non-cash impairments relating mainly to the decision to place Ghaghoo on care and maintenance, attributable loss of US$158.8 million and basic loss per share of 114.9 US cents\n\n\n\n\n· Cash on hand of US$30.8 million as at 31 December 2016 (US$28.5 million attributable to Gem Diamonds) \n\n\n\n\n \n \n\n\n\n\nOPERATIONAL RESULTS: \nLetšeng: \n \n\n\n\n\n· Carats recovered of 108 206 (108 579 in 2015)\n\n\n\n\n· Waste tonnes mined of 29.8 million tonnes (24.0 million tonnes in 2015)\n\n\n\n\n· Ore treated of 6.6 million tonnes (6.7 million in 2015)\n\n\n\n\n· Average value of US$1 695* per carat achieved (US$2 299* in 2015) due to fewer +100 carat diamonds recovered\n\n\n\n\n· 34 rough diamonds achieved a greater value than US$ 1.0 million each\n\n\n\n\n· Five diamonds larger than 100 carats each recovered (Eleven in 2015)\n\n\n\n\n· 11.8 carat pink diamond, sold for US$187 700 per carat, making it the third highest price per carat sold by Letšeng \n \n· The largest recovered diamond was a 160.2 carat Type II white diamond\n\n\n\n\n* Incl...