Business
Q1 2019 Trading Update
Q1 2019 Trading Update.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 2715Y Gem Diamonds Limited 08 May 2019 \n\n8 May 2019 \n \nGEM DIAMONDS LIMITED\nQ1 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 31 March 2019 (\"Q1 2019\" or the \"Period\"). \n \nLetšeng: \n \n· Recovered and sold a 13.33 carat pink diamond for a Letšeng record of US$ 656 933 per carat.\n· Recovered two diamonds greater than 100 carats during the Period. \n· Carats recovered of 29 458 during the Period were in line with guidance targets and with the previous period (Q4 2018: 29 523 carats).\n· Sold 27 335 carats during the Period, achieving an average price of US$ 1 900 per carat \n(Q4 2018: US$ 1 259 per carat).\n· Sold eight diamonds for more than US$ 1.0 million each, generating revenue of US$ 27.2 million during the Period. \n \nInnovation:\n \n· The diamond detection pilot plant project remains on target to be commissioned at the end of Q2 2019. Construction and set-up have commenced on site. This project supports the continuing strategy of early detection of large diamonds and diamond damage reduction.\n \n Business...