13th Feb 2014 10:38
LONDON (Alliance News) - Gem Diamonds Ltd Thursday said it has recovered two diamonds of over 160 carats from its Letseng Diamonds Ltd site in Lesotho.
The high-value diamond producer said it recovered the diamonds at the end of January, and both diamonds were uncovered in largely undamaged condition, reflecting possible improvements in the company's diamond damage reduction strategy.
Gem Diamonds said the two rough diamonds, a 162.06 carat type II diamond and a 161.74 carat type I diamond are expected to achieve top prices at its upcoming February Letseng tender.
The company said that in October it had sold a 12.47 carat blue diamond for USD7.5 million, and in December a 78.69 carat white diamond sold for USD5.2 million
Gem Diamonds shares were up 2.2% to 161.00 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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