Business
H1 2024 Trading Update
H1 2024 Trading Update.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n\n13 August 2024 \n \nGEM DIAMONDS LIMITED\nH1 2024 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 from 1 January 2024 to 30 June 2024 (\"H1 2024\" or the \"Period\").\n\nHighlights:\n· 56 944 carats were sold during the Period (H1 2023: 52 163 carats), generating revenue of US$77.9 million (H1 2023: US$71.6 million) and achieving an average price of US$1 366 per carat (H1 2023: US$1 373 per carat).\n· Carats recovered during the Period were 55 873 (H1 2023: 50 601).\n· The highest price achieved in the Period was US$41 007 per carat for a 62.78 carat white diamond.\n· 11 diamonds sold for more than US$1.0 million each, generating revenue of US$29.5 million during the Period.\n· Eight greater than 100 carat diamonds were recovered during the Period of which six were sold in the period. Post period end, a 145 carat type II white diamond was recovered bringing the total recoveries of greater than 100 carats to nine for the current year.\n· All operational and financial metrics are trending within the original guidance issued in March for 2024.\n\nLetšeng Diamonds production summary:\n \n\n\n\n\n\n\n\nH1\n 2024\n\n\nH1\n 2023\n\n\n%\nChange\n\n\n\n\nWaste tonnes stripped\n\n\n3 163 476\n\n\n4 846 680\n\n\n-35%\n\n\n\n\nOre tonnes treated\n\n\n2 542&nbs...