Gem Diamonds Q1 Reports and Recoveries

Gem Diamonds, who owns 70% of the Letšeng mine in Lesotho, has released its Q1 2024 Trading Update, which showcases robust operational and sales performances from January 1st to March 31st, 2024.

Key Highlights from Q1: 

• Highest Price Achieved: A remarkable US$39,345 per carat was realized for a 113.11-carat white diamond.
   
• Strong Sales: Five diamonds surpassed the US$1 million mark individually, contributing to a total revenue of US$18.6 million.
   
• Notable Recoveries: Three diamonds weighing over 100 carats each were successfully recovered and sold.
   
• Market Alignment: All operational and financial metrics are in line with market expectations for 2024, reaffirming Gem Diamonds' steady growth trajectory and commitment to delivering value to stakeholders.

Earlier this week the company announced the recovery of a 169.15ct Type II White diamond, from the the Letšeng mine in Lesotho. 

Photo credit: Gem Diamonds