Ann: Update on Suspension, page-33

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12/02/19

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Post #: 37410471
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Originally posted by pentacost: ↑

GEM DIAMONDS: AVERAGE PRICE PER CARAT UP 10% IN 2018
44 diamonds were sold for more than $1 million each in 2018

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10.02.2019Financial News
Credit: Gem Diamonds
Gem Diamonds has reported its sales performance for the fourth quarter of 2018 and the full year 2018, saying that “the demand and prices for Letšeng’s large high-quality white rough diamonds have remained firm”.

One of the highlights of the report is the 10% rise year-on-year in the average price per carat achieved in 2018. Gem Diamonds raked in $2,131 per carat in 2018, compared with $1,930 per carat in 2017. The miner recovered 15 diamonds bigger than 100 carats from its Letšeng mine in Lesotho – a record for the company. 44 diamonds were sold for more than $1 million each in 2018, and the total revenue for the year totaled $137.2 million.

As for the fourth quarter, carats recovered were up 13% year-on-year to 126,875 carats. It sold 33,140 carats during the period – up 9% from Q3 2018. The miner sold nine diamonds for more than $1 million each in the fourth quarter, generating revenue of $14.6 million during the period.

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If you read the article, they produced 15 stones above 100cts (a record number) given the small volumes it mines, it's easy to see how a few stones can impact the price.
There is not a comparable mine to this one at ~$2,000/ct.
MED Price at posting: 0.6¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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Ann: Update on Suspension, page-33

Top Stories

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