23rd Oct 2024 12:02
Gem Diamonds Ltd - diamond miner in Lesotho and Botswana - Says revenue rose in the third-quarter as it sold more carats, noting a revenue climb in the third-quarter of 23% to USD42.7 million from USD34.8 million in the second-quarter. It said 26,617 carats were sold during the period, up 9.0% from 24,422 carats in the second. "Six diamonds sold for more than USD1.0 million each, contributing USD22.6 million to the revenue for the period," Gem Diamonds says. The achieved price per carat was USD1,603 in the third quarter, up 13% from USD1,424 in the second quarter. The highest price achieved in the three months was USD45,537 per carat for a 10.98 carat pink diamond. In the third quarter of 2023, the highest price achieved had been USD36,399 per carat for a white 58.71 carat type IIa diamond, and USD67,853 per carat for a 5.96 carat pink diamond.
Current stock price: 11.99 pence per share, down 4.1% on Wednesday around noon in London
12-month change: down 7.4%
By Tom Budszus, Alliance News slot editor
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