02/07/2008
Gem Diamonds has sold ten stones from its Letseng mine in Lesotho for £5.5 million.
The fully listed company, whose chief executive officer is ex-Oppenheimer luminary Clifford Elphick, says the ten rough diamonds, recovered from Letseng’s main and satellite pipes, together totalled 261.4 carats and fetched an average of $42,000 (£21,000) a carat in a tender at Antwerp last month. According to Gem, the world average rough diamond price is $91 (£45.50) a carat. These ‘top-quality white diamonds’, varying in size from 11.8 to 70.7 carats, commanded many times that in a tender which, claims Elphick, ‘reinforces Letseng’s status as one of the most remarkable diamond mines in the world’.
Shares in Gem Diamonds have fluctuated between £12.16p and £8 over the past 12 months. The price today is £10.25p.
Growth Company Investor is the UK’s leading authority on small-cap and AIM companies. You can gain immediate access to all the recent share recommendations with no obligation, with a free 30-day trial. Click here to join today.
Related Articles:
|
| 17/07/2008
|
| 15/05/2008
|
| 12/05/2008
|
| 09/05/2008
|
| 02/05/2008
|
People who read this article also read ...
|
| 14/07/2008
|
| 01/08/2007
|
| 19/07/2007
|
| 11/04/2007
|
Commercial Mortgage Quote
We present absolutely free financial information and a superior financial search system.
Looking for Commercial Mortgage Quote
We have reviewed and sorted 405 odd links for commercial mortgage quote - the top 10 list is presented here.
Business Bank Account
Pick From Leading Business Bank Account Specialists.
