Business
Sale of 196 and 184 Carat Dia
Sale of 196 and 184 Carat Dia.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n RNS Number : 7738W Gem Diamonds Limited 25 November 2010 \n \n\n25 November 2010 Announcement\n \n \nGEM DIAMONDS LIMITED\n \nGEM DIAMONDS ANNOUNCES THE SALE OF THE 196 CARAT AND THE 184 CARAT DIAMONDS FOR US$22.7 MILLION AND\nA 4.68 CARAT BLUE DIAMOND SELLS FOR A LETŠENG RECORD OF US$155 000 PER CARAT\n \n \nGem Diamonds Limited (LSE: GEMD) (Gem Diamonds) and the Government of the Kingdom of Lesotho are pleased to announce the sale of both the 196 carat and the 184 carat rough white diamonds which were recovered from the Letšeng mine in the second half of 2010 for a total of US$22 736 360 (an average of US$59 833 per carat). \n \nThe world's leading diamantaires participated in a Special Tender which closed in Antwerp on 24 November 2010. In a strongly competitive tender the winning bid for both the 196 carat and 184 carat rough white diamonds was made by SAFDICO. \n \nAdditionally, at the November 2010 tender for Letšeng's run of mine production, which closed on 18 November, a 4.68 carat rough blue diamond was sold for US$155 000 per carat, the highest price per carat achieved for a Letšeng rough diamond to date. The average price achieved for the November tender (excluding the 196 carat and 184 carat diamonds) was US$2 341 per carat. \n \n \nGem Diamonds' CEO, Clifford Elphick commented: \n\"It is very pleasing that Letšeng's diamonds continue to attract strong prices and I congratulate Safdico on their purchase of these two remarkable diamonds of top colour and outstanding clarity which are testament to the enduring value of the diamonds that Letšeng continues to produce.\" \n \nFor further information:\nGem Diamonds Limited\nClifford Elphick, Chief...