Gem Diamonds Sells 357-carat Diamond for US$19.3 Million

Gem Diamonds Ltd. (LSE:GEMD) announced that a 357-carat white diamond found at its Letseng mine in July 2015 was sold for US$19.3 million on tender in Antwerp last week.
Clifford Elphick, CEO of Gem Diamonds, commented:

The Letšeng mine has produced two remarkable +300 carat diamonds during the year to date. The 314 carat diamond, which was recovered in May 2015 and sold into a partnership arrangement in June 2015, and the 357 carat diamond which was sold on tender in September 2015 for US$19.3 million. Both of these diamonds achieved top prices despite current market conditions, providing further evidence of the price resilience of Letšeng’s large top quality diamonds.

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