Business
Trading update for Q4 2015
Trading update for Q4 2015.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 8650N Gem Diamonds Limited 03 February 2016 \n\n03 February 2016 \n \nGEM DIAMONDS LIMITED\nTrading update for Q4 2015\n \nGem Diamonds Limited (LSE: GEMD) (\"Gem Diamonds\" or the \"Company\" or the \"Group\") is pleased to provide the following Trading Update detailing the Group's operational and sales performance for the Period 1 October 2015 to 31 December 2015 (\"Q4 2015\") or (the \"Period\"). \n \nLetšeng:\nStrong end to the year with full year production above guidance. Prices remain robust.\n· Produced 29 100 carats in Q4 2015 taking full year production to 108 579 carats.\n· Achieved planned waste tonnes and increased Satellite Pipe ore contribution. \n· Average price of US$ 2 117* per carat achieved in Q4 2015. \n· 9 rough diamonds achieved a value of greater than US$ 1.0 million each. \n· A total of three diamonds of greater than 100 carats each sold in the Period.\n· Zero Lost Time Injuries (LTIs) for the Period, resulting in a LTI free 2015 and a total of 430 consecutive LTI free days. \n*Includes carats extracted at rough value for polishing. \n \nGhaghoo:\nGrade remains higher than Reserve. Production slowdown planned.\n· Phase 1 objectives achieved:\no Treatment target of 2 000 tonnes per day achieved on 21 January 2016 after surge bin commissioned.\no Operating costs trend below US$ 50 per tonne.\no Average recovered grade of 28.6cpht (compared to the average reserve grade of 27.8cpht). \n· Water fissure on Level 1 and the intersection in the ramp on Level 2 sealed.\n· 95 diamonds greater than 4.8 carats each were recovered during the Period, including 9 diamonds larger than 10.8 carats, with the largest being a 34.1 carat diamond.\n· 24 294 carats recovered during the Period. \n· Third parcel sold in December achieving an average price of ...