Gem Diamonds Share Discussion Threads

[alan@bj] 02/6/2013 15:41

Nice piece in yesterday's Times suggesting a rerating might be due.

[salpara111] 31/5/2013 17:51

Give me a call when they start providing returns to shareholders.

[undervaluedassets] 31/5/2013 12:31

http://en.wikipedia.org/wiki/Letseng_diamond_mine

Unique.

[varrirob] 31/5/2013 11:14

Certainly seems to be the area for getting the best quality diamonds. Needs to recover a bit more before my entry point is reached.

[luminoso] 31/5/2013 08:06

muted reaction so far.

[undervaluedassets] 31/5/2013 07:56

This company owns the most amazing diamond franchise in the world. Letseng.

[togglebrush] 31/5/2013 07:20

'
164ct Letšeng diamond sold for US$ 9.0 million
'
Gem Diamonds Limited (LSE: GEMD) is pleased to announce the sale of an exceptional quality 164 carat D colour, Type IIa diamond which was recovered from the Main pipe at the Letšeng mine on 30 April 2013.
'
This remarkable rough diamond is expected to produce top colour and top clarity polished diamonds and has been sold into a profit sharing arrangement for US$ 9.0 million (US$ 54 911 per carat), whereby the rough price is received upfront. Letšeng Diamonds will benefit further from a significant share of the downstream polished margin from the sale of the polished diamonds.
'
At the Letšeng mine, two of the four new secondary and tertiary crushers have been successfully installed into Plant 2, on schedule and on budget, and are operational. The remaining two crushers are on schedule to be installed before the end of June as previously announced.
'
Further work focussing on reducing diamond damage at Letšeng continues and it is pleasing to report that in addition to the recovery of the 164 carat diamond, a 103 carat diamond was also recovered from the Main pipe during May 2013 and that both diamonds were undamaged. The 103 carat diamond, which is not of the same high quality as the 164 carat diamond, will be sold on the next tender in June.
'
Gem Diamonds CEO, Clifford Elphick stated:
"The recovery and sale of this high quality 164 carat white diamond reinforces Letšeng's position as the premier source of exceptional diamonds. "

[happygolucky] 31/5/2013 07:14

Yippee - profit in that!! A nice reminder of just what an asset the Letseng mine is...

Struggling to see how even this market can see that as negative news......

[varrirob] 23/5/2013 12:38

I wonder if we will see any activity here after the latest tender by LUC?

[don777] 24/4/2013 16:28

nothing excited, so it will stay here all the summer.

[lucky_punter] 24/4/2013 09:29

Gem Diamonds Ltd. (LON:GEMD) announced its interim management statement for the period 1st January to 23rd April. The Letseng mine in Lesotho mined 1.45Mt of ore in the first quarter of 2013 and processed 1.47Mt, recovering 18,775 carats of diamond. Waste stripping was ramped up in the last quarter of 2012 and this has continued into Q1 2013 to ensure timely exposure to the Satellite ore required for mid-2013. During the first quarter of 2013 both Letšeng Plants 1 and 2 treated a total of 1.2MT of ore which was sourced entirely from the Main pipe as planned, with the remainder treated by Alluvial Ventures.

[salpara111] 24/4/2013 08:34

Nothing in that statement to make me change my mind.
They seem to be running harder just to stand still.

[luminoso] 19/4/2013 18:33

Thanks Don

[varrirob] 16/4/2013 22:23

2012 full year presentation now available on the website. Reads well considering the price pressures last year.

[don777] 11/4/2013 21:34

thanks,
just a bit luck, i did not expect two fails just after we discussed, what i thought is based on the general market.

[contrarian2investor] 11/4/2013 17:32

Don777,

You were spot on wrt FPM. Good call.

[haywards26] 05/4/2013 17:18

I have now found it tucked away in the annual report. But they do not include it in the full year RNS....

[haywards26] 05/4/2013 17:02

The one item missing from the GEMD full year results seems to be their diamond reserves/resource figures....I would expect most producers/explorers to highlight this in their annual statements.

[don777] 05/4/2013 15:53

I did attend Proactive several times and most times on the Oilbarrel confence, it's not helpful.

[rimmy2000] 05/4/2013 14:06

don, as a londoner do you attend proactive or MRQ events? often they feature co's such as GEMD?

[don777] 05/4/2013 12:04

you can make fortunate if you short it till summer.

however, I am not full time to invest, so do long only.

but will have a try one day when I am retired.

[rimmy2000] 05/4/2013 11:41

i am short ukx so I agree :)

[don777] 05/4/2013 11:32

yes, I agree to wait for a while, at least 1 -2 weeks to test the bottom here, not catch a falling knife again.

I got at 170P and am waiting for average down, thinking the FTSE100 is too high atm.