Gem Diamonds’ Q4 Letšeng Revenue Totals US$75.6 Million

Gem Diamonds Ltd. (LSE:GEMD) announced that during the fourth quarter of 2013, its Letšeng operation brought in revenue of US$75.6 million. Meanwhile, the company continued to make progress at Ghaghoo, which it believes “offers strong growth potential.”

Highlights from Letšeng include:

• An average value of US$ 2 533 per carat was achieved for the 3 exports in Q4 2013 (US$ 2 022 per carat in Q3 2013 and US$ 1 741 per carat in H1 2013).
• 27 227 carats recovered in Q4 2013, up 7% on Q3 2013.
• 11 rough diamonds achieved a value in excess of US$ 1 million each during the Period, (totalling 27 for the full year).
• 35 rough diamonds achieved a value in excess of US$ 20 000 per carat during the Period (totalling 96 for the full year).
• A total of 215 rough diamonds greater than 10.8 carats in size were exported in the Period, equating to 82% of Letšeng’s revenue for the Period. (566 diamonds greater than 10.8 carats have been exported for the full year, totalling 75% of Letšeng’s revenue for the full year).
• In October 2013 a 12.47 carat blue diamond sold for US$ 7.5 million, a Letšeng record of US$ 603 047 per carat.

Click here to read the full Gem Diamonds Ltd. (LSE:GEMD) press release.