1st Oct 2014 08:10
LONDON (Alliance News) - Gem Diamonds Ltd Wednesday said it has sold the 198 carat white diamond found at the Let?eng mine in Lesotho in August.
Gem has sold the diamond for USD10.6 million, in line with its colour, clarity and expected polished yield at the September tender, it said.
"The sale of this large, high-quality white diamond demonstrates the continued robust demand for large high-quality diamonds," said Clifford Elphick, chief executive officer of Gem.
Reporting its first-half results in August, Gem saw its pretax profit more than double on the back of strong revenue growth, driven by the performance of the Let?eng mine.
Gem shares were down 0.4% on Wednesday, quoted at 191.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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