GJ Town India

Ghaghoo diamond mine The primary asset in Botswana Gem Diamonds Limited has entered into a binding agreement with Pro Civil (Pty) Ltd for the sale of 100% of the share capital of Gem Diamonds Botswana Proprietary Limited (GDB). Pro Civil is a company registered in Botswana. GDB's primary asset is the Ghaghoo diamond mine in Botswana which has been on care and maintenance since March 2017, and which is wholly owned by GDB.    GDB reported for the period ended 31 December 2018, loss before tax of BPW 49.5 million (US$ 4.9 million) and, as at the same date, had gross assets of BWP 42.3 million (US$ 3.9 million). Under the share sale agreement, Pro Civil will make a once-off upfront payment of US$5.4m for the share capital of GDB.   Gem Diamonds will use the sale proceeds for general corporate purposes.   In addition, Pro Civil will assume the environmental liability currently associated with GDB.                                                                     

A Letšeng record of US$ 656 933 per carat Gem Diamonds Limited provides Trading Update detailing of operational and sales performance for the Period Q1 2019 & says, Recovered and sold a 13.33 carat pink diamond for a Letšeng record of US$ 656 933 per carat. During the period Letšeng also recovered two diamonds greater than 100 carats. Total Carats recovered of 29 458 during the Q1 were in line with guidance targets and with the previous period of Q4 2018 of 29 523 carats. On the other hand they sold 27 335 carats during the Period, achieving an average price of US$ 1 900 per carat is higher over the Q4 2018 which had recovered US$ 1 259 per carat. The period also registered sales of eight diamonds for more than US$ 1.0 million each, generating revenue of US$ 27.2 million during the Period. The diamond detection pilot plant project remains on target to be commissioned at the end of Q2 2019. Construction and set-up have commenced on site. This project supports the

13.33 carat pink diamond sold at Records price of US$ 656,933 per carat Gem Diamonds Limited (LSE: GEMD) is pleased to announce that a 13.33 carat pink diamond recovered at the Letšeng mine in February 2019 has been sold on tender in Antwerp for US$ 8,750,360. This represents a record dollar per carat price of US$ 656,933 for a Letšeng diamond.   Letšeng has also produced high quality pink and blue diamonds, with a rare blue diamond achieving a sales price of US$603 047 per carat in 2013 and an exceptional pink diamond achieving $187 700 per carat in 2016. Letšeng ranks in the top 15 global diamond producers by revenue. The large high value diamonds from Letšeng account for 70% to 80% of the Group’s revenue annually. Letšeng has grown to be one of the largest open pit diamond mines in the world, processing ore from two kimberlite pipes, the Main pipe 17.0ha and the Satellite pipe 5.2ha. In 2017, initiatives were undertaken to unlock additional value, which

Total recoveries over 100 carats at Letšeng reaches to 14 during 2018 Gem Diamonds Limited announces the recovery of high quality 101 carat and 71 carat white Type IIa diamonds, both recovered within a twenty four hour period, from the Letšeng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world. The recovery of the 101 carat diamond brings the total recoveries at Letšeng to a record fourteen diamonds of over 100 carats during 2018.   Letšeng is renowned for its regular production of large, top colour, exceptional white diamonds, making it the highest average dollar per carat kimberlite diamond mine in the world. Since Gem Diamonds acquired Letšeng in 2006, it has produced over 60 +100 carat, large, top colour, exceptional white diamonds, making it the highest average dollar per carat kimberlite diamond mine in the world. In addition, Letšeng has produced high quality pink and blue diamonds, with a rare blue diamond achieving a s