Business
Mineral Resources and Reserve Statement
Mineral Resources and Reserve Statement.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 7515G Gem Diamonds Limited 18 May 2011 \n \n\n18 May 2011 Announcement\n \nGEM DIAMONDS LIMITED\n \nIndependent Technical Report and Mineral Resource and Reserve Statements\n \nGem Diamonds Limited (LSE: GEMD) (Gem Diamonds) (the Company) is pleased to release its Independent Technical Report (ITR) which includes details of the Group's mineral resources and reserves and pricing as at 31 December 2010, as well as the latest information regarding operations and projects. \n \nThe ITR is an independent economic analysis of Gem Diamonds' operations and is the first full guidance on the Company's life of mine planning published since its IPO in 2007. The ITR has been compiled by independent Qualified Persons from Venmyn Rand Pty Ltd (Venmyn) and has been prepared in compliance with the Canadian National Instrument 43-101, and JORC and SAMREC codes for resources and reserves. The effective date of the ITR is 1 March 2011. \n \nThe full ITR is available in PDF format for downloading on the company's website as well as a summary of the resource and reserve statements. www.gemdiamonds.com\n \nHighlights: \n \n· Gem Diamonds total resource of 28.89 million carats is valued at an average of US$536 per carat, which increas...