Business
Q1 2017 Trading Update
Q1 2017 Trading Update.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 8968F Gem Diamonds Limited 23 May 2017 \n\n23 May 2017 \n \n \nGEM DIAMONDS LIMITED\nQ1 2017 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 performance for the Period from 1 January 2017 to 31 March 2017 (\"Q1 2017\" or the \"Period\") and sales performance to the date of this report. \n \nLetšeng: \n \n· Announcement today of the recovery of a 98.42 carat high quality D-colour Type II diamond which will be sold in June (see www.gemdiamonds.com for photograph). \n· Sold 39 950 carats for an average price of US$ 1 6361 per carat for the first three tenders in 2017 (up 13% from US$ 1 444 per carat in the previous period, Q4 2016). \n· An 8.65 carat pink diamond achieved US$ 164 855 per carat, making it the sixth highest price per carat achieved by a Letšeng rough diamond. \n· A 114.38 carat Type II diamond was sold into a partnership arrangement, with Letšeng to share in additional margin on the final polished diamonds. \n· 11 diamonds sold for more than US$ 1.0 million generating revenue of US$ 20.4 million. \n· On 3 May, an exceptional 80.58 carat D-colour Type II diamond was recovered which will...