Business
H1 2019 Trading Update
H1 2019 Trading Update.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 1043J Gem Diamonds Limited 15 August 2019 \n\n15 August 2019 \n \nGEM DIAMONDS LIMITED\nH1 2019 Trading Update\n \nGem Diamonds Limited (LSE: GEMD) (\"Gem Diamonds\" or the \"Company\" or the \"Group\") provides the following Trading Update detailing the Group's operational and sales performance for the Period from 1 January 2019 to 30 June 2019 (\"H1 2019\" or the \"Period\"). \n \nLetšeng: \n \n· Recovered and sold a 13.32 carat pink diamond for a Letšeng record of US$ 656 934 per carat.\n· Recovered three diamonds greater than 100 carats during the Period, with an additional two diamonds greater than 100 carats recovered in July.\n· Sold 55 714 carats during the Period, achieving an average price of US$ 1 697 per carat, an increase of 10% on the average price for H2 2018 of US$ 1 537 per carat.\n· Sold 15 diamonds for more than US$ 1.0 million each, generating revenue of US$ 41.6 million during the Period. \n· Successfully implemented steeper inter-ramp pit slope angles resulting in a reduction of 3.2 million waste tonnes mined compared to that which would have been mined under the previous pit design.\nInnovation:\n \n· The construction of the 'detecting diamonds within kimberlite' pilot plant at Letšeng has been completed and commissioning and ramp up has commenced in August. \n Business Transformation:\n \n· In the first 18-months of the 4-year...