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Share Name Share Symbol Market Type Share ISIN Share Description
Gem Diamonds Limited LSE:GEMD London Ordinary Share VGG379591065 ORD USD0.01 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.10 -0.31% 31.90 32.00 34.00 34.00 32.00 33.60 120,144 16:35:25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 137.3 11.3 1.4 20.7 44

Gem Diamonds Limited Letšeng temporarily placed on care & maintenance

26/03/2020 7:00am

UK Regulatory (RNS & others)


Gem Diamonds (LSE:GEMD)
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RNS Number : 6333H

Gem Diamonds Limited

26 March 2020

26 March 2020

GEM DIAMONDS LIMITED

("Gem Diamonds" or "the Company")

Letšeng placed on care and maintenance to combat Covid19

Gem Diamonds Limited (LSE: GEMD) announces that, in line with the Lesotho Government's three week lock down strategy (between 29 March and 21 April 2020), to combat the spread of the Covid19 disease, the decision has been taken to temporarily place the Letšeng mine on care and maintenance for this three week period.

For the period of the lock down, only essential maintenance will take place, with security and support staff performing rotation shifts at the mine. The situation will be reviewed after three weeks. Gem Diamonds will continue to hold its recently announced flexible sales of diamonds during this period.

Gem Diamonds and Letšeng fully supports the decision of the Lesotho Government and regards this intervention as an important step in the fight against the Covid19 disease.

Gem Diamonds' key priority remains the safety of its employees, contractors and customers, and continues to ensure all relevant safety protocols relating to Covid19 are adhered to. To date, there have been no reported instances of any Covid19 positive cases in Lesotho or at the Letšeng mine or at any of the Company's international operations.

For a full description of the steps taken regarding the prevention of the Covid19 disease, please see the Company's website at www.gemdiamonds.com

The Gem Diamonds Limited LEI number is 213800RC2PGGMZQG8L67

For further information:

Gem Diamonds

Susan Wallace, Company Secretarial department

ir@gemdiamonds.com

Celicourt Communications

Mark Antelme / Joanna Parker

Tel: +44 (0) 208 434 2643

About Gem Diamonds:

Gem Diamonds is a leading global diamond producer of high value diamonds. The Company owns 70% of the Letšeng mine in Lesotho. The Letšeng mine is famous for the production of large, top colour, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world. www.gemdiamonds.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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(END) Dow Jones Newswires

March 26, 2020 03:00 ET (07:00 GMT)

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