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Showing posts with the label Gem Diamonds H2 2020

Gem Diamonds recovered 16 rough over +100 carats in 2020

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Earned average price of US$1 908 per carat yet a lower YoY   Gem Diamonds Limited provides the Trading Update detailing the Group's operational and sales performance from 1 October 2020 to 31 December 2020 (Q4 2020).  According to the Trading Update, the Group further increased its net cash position by US$33.1 million, ending the Period with net cash of US$34.2 million (Q3 2020: net cash US$1.1 million).   Operational guidance metrics for the 2020 full year were achieved. During the Period, four diamonds greater than 100 carats were recovered to bring the total for the year to 16 & average price achieved for the Period was US$1 907 per carat. Over all 99 172 carats sold in the year, achieving an average price of US$1 908 per carat (2019: US$1 637 per carat). Ten diamonds sold for more than US$1.0 million each, generating revenue of US$22.6 million during the Period, bringing the total number of diamonds sold for greater than US$1.0 million to 34 for the year.  Diamond price