Business
H1 2021 Trading Update
H1 2021 Trading Update.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 2173I\n Gem Diamonds Limited\n 11 August 2021\n \n \n \n \n 11 August 2021 \n \n \n GEM DIAMONDS LIMITED\n \n \n H1 2021 Trading Update\n \n \n \n \n \n Gem 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 from 1 January 2021 to 30 June 2021 (\"H12021\" or the \"Period\"). \n \n \n \n \n \n Highlights: \n \n \n · \n Three diamonds greater than 100 carats were recovered during the Period, including the recovery of the high quality 367 and 254 carat Type IIa white diamonds. \n \n \n · \n The highest price per carat achieved in the Period was US$119 886 for a 3.35 carat pink diamond.\n \n \n · \n The highest price per carat achieved in the Period for a white Type IIa diamond was US$40 139 for the 254 carat stone.\n \n \n · \n Carats recovered during the Period were 58 831 (H2 2020: 57 504).\n \n \n · \n Carats sold during the Period were 55 124 (H2 2020: 55 939). \n \n \n · \n Revenue for the Period was US$104.0 million (H2 2020: US$115.1 million).\n \n \n · \n Average price achieved for Q2 2021 was US$2 131 per carat, an increase of 31% over Q1 2021, resulting in an average of US$1 886 for the Period (H2 2020: US$2 057 per carat).\n \n \n · \n 10 diamonds sold for more than US$1.0 million each, generating revenue of US$36.1 million during the Period. \n \n \n · \n The 2021 production and cost guidance, as reported on 11 March 2021, remains on target. \n \n \n \n \n \n Covid-19: \n \n \n \n \n \n · \n The Group continues to stringently apply its wide range of Covid-19 protocols, health and safety measures and other precautions to protect its employees and contractors at its operations. This has had a positive effect in containing infections across the Group and has allowed operations to continue in a safe and responsible manner. \n \n \n · \n The Group continues to provide support to its workforce, contractors and surrounding communities in its efforts to curb the spread of the virus where it operates. Letšeng partnered with the Government of the Kingdom of Lesotho to increase preparedness for the impact of Covid-19 in project-affected communities. The mine acquired 20 000 doses of the Johnson & Johnso...