Business
Trading Update
Trading Update.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 5464N Gem Diamonds Limited 29 July 2014 \n\n29 July 2014 \n \nGEM DIAMONDS LIMITED\nH1 2014 Trading Update\n \nExceptional First-Half underpinned by an excellent operational performance and strong growth potential. \n \nGem Diamonds Limited (LSE: GEMD) reports a trading update for the Period 1 January 2014 to 30 June 2014 (H1 2014) (the Period). Gem Diamonds' financial results for the Period will be detailed in its Half Year 2014 Report and Results Announcement which will be released on 20 August 2014.\n \nHighlights during the Period:\n \nLetšeng:\nLetšeng delivers exceptional performance\n \n· 80% increase in Letšeng's revenue*to US$ 147.8 million compared to H1 2013\n· 29% increase to 54 678 in carats recovered compared to H1 2013.\n· 14% increase to 53 799 in carats sold* in the first five tenders of 2014, compared to H1 2013. \n· 58% increase in average value per carat of US$ 2 747* achieved for the first five tenders of 2014, compared to H1 2013.\n· 37 rough diamonds achieved a value in excess of US$ 1.0 million each.\n· 77 rough diamonds achieved a value in excess of US$ 20 000 per carat. \n· 5 rough diamonds achieved a value in excess of US$ 60 000 per carat.\n· A total of 311 rough diamonds greater than 10.8 carats in size were sold. \n· Three exceptional quality +100 carat diamonds - a 162.02 carat, a 161.31 carat and a 132.55 carat, were sold for US$ 11.1 million, US$ 2.4 million and US$ 7.5 million, respectively.\n· Tonnes of ore treated up 6% on H1 2013.\n \n*Includes carats extracted for polishing at rough valuation. \n \nGhaghoo: \nFirst diamonds recovered, underpinning long-term potential at Ghaghoo \n \n· Development of Phase 1 of the Ghaghoo mine achieved on time and on budget.\n· Processing plant being commissioned...