Business
Q3 2018 Trading Update
Q3 2018 Trading Update.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 7451F Gem Diamonds Limited 31 October 2018 \n\n31 October 2018 \n \nGEM DIAMONDS LIMITED\nQ3 2018 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 July 2018 to 30 September 2018 (\"Q3 2018\" or the \"Period\"). \n \nLetšeng: \n \n· Recovered two greater than 100 carat diamonds during the Period.\n· After Period end, on 15 October, a 357-carat diamond was recovered, bringing the number of diamonds greater than 100 carats recovered during 2018 to thirteen. \n· Recovered 35 755 carats during the Period, up 27% from Q2 2018.\n· Sold eight diamonds for more than US$ 1.0 million each, generating revenue of US$ 21.0 million during the Period.\n· No Lost Time Injuries (LTI's) occurred during Q3 2018.\n \nInnovation:\n \n· In line with the continuing strategy of early detection of large diamonds and diamond damage reduction, the Company approved a US$ 3 million pilot plant to be constructed at Letšeng. This project employs innovative technology to identify diamonds within kimberlite ore and uses non-mechanical means of liberating the encapsulated diamonds. The plant will be commissioned during Q2 2019. \n \n Business T...