Gem Diamonds Ltd. (DI) (GEMD)

Sector:

Mining

Index:

FTSE Fledgling

11.73p
   
  • Change Today:
    -0.100p
  • 52 Week High: 14.85p
  • 52 Week Low: 7.99p
  • Currency: UK Pounds
  • Shares Issued: 139.72m
  • Volume: 222,970
  • Market Cap: £16.38m
  • RiskGrade: 292

Sales lose their sparkle at Gem Diamonds

By Abigail Townsend

Date: Wednesday 01 Nov 2023

LONDON (ShareCast) - (Sharecast News) - Gem Diamonds reported a fall in the number of precious stones sold during the last quarter on Wednesday, as the global market continued to struggle.
Gem said it had sold 23,955 carats in the three months to 30 September, a 10% fall on the number sold in the second quarter. The price achieved also dipped, to $1,310 per carat from $1,317.

In total, Gem recovered 26,913 carats compared to 22,857 in the second quarter. London-listed Gem owns 70% of the high-value Letseng mine in Lesotho, a specialist in large white diamonds, and 100% of the Ghaghoo mine in Botswana.

Gem noted: "As has been well documented, the global rough diamond market has experienced a downturn in 2023.

"A decrease in the number of large, high value diamonds recovered, combined with this market pressure, have negatively impacted the average dollar per carat and revenue achieved during the period."

The highest prices achieved during the period was $36,399 per carat for a white, 58.71 carat type IIa diamond, and $67,853 per carat for a 5.96 carat pink diamond. Four diamonds sold for more than $1m each.

The firm provided no guidance for the current quarter or full year, although it noted that two diamonds greater than 100 carats had been recovered and would be sold in the fourth quarter.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

GEMD Market Data

Currency UK Pounds
Share Price 11.73p
Change Today -0.100p
% Change -0.85 %
52 Week High 14.85p
52 Week Low 7.99p
Volume 222,970
Shares Issued 139.72m
Market Cap £16.38m
RiskGrade 292

GEMD Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
7.08% below the market average7.08% below the market average7.08% below the market average7.08% below the market average7.08% below the market average
57.14% below the sector average57.14% below the sector average57.14% below the sector average57.14% below the sector average57.14% below the sector average
Price Trend
11.32% above the market average11.32% above the market average11.32% above the market average11.32% above the market average11.32% above the market average
24.09% above the sector average24.09% above the sector average24.09% above the sector average24.09% above the sector average24.09% above the sector average
Income Not Available
Growth
98.34% below the market average98.34% below the market average98.34% below the market average98.34% below the market average98.34% below the market average
96.61% below the sector average96.61% below the sector average96.61% below the sector average96.61% below the sector average96.61% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

GEMD Dividends

  Latest Previous
  Final Final
Ex-Div 19-May-22 13-May-21
Paid 21-Jun-22 15-Jun-21
Amount 2.70¢ 2.50¢

Trades for 31-Oct-2024

Time Volume / Share Price
14:03 125,000 @ 10.97p
15:17 2,567 @ 11.10p
15:10 5,000 @ 11.34p
14:05 25,000 @ 11.04p
13:29 710 @ 11.25p

GEMD Key Personnel

CEO Clifford Thomas Elphick
CFO Michael Michael

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