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There are no current short positions above 0.5% in GEM DIAMONDS LTD

Posts: 250
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Posted: January 15, 2018

GEMD Recovery of exceptional quality 910 carat dia

RNS Number : 8081B
Gem Diamonds Limited
15 January 2018

GEM DIAMONDS LIMITED

("Gem Diamonds" or "the Company")

Recovery of exceptional quality 910 carat diamond

Gem Diamonds Limited (LSE: GEMD) is pleased to announce the recovery of an exceptional quality 910 carat, D colour Type IIa diamond from the Letšeng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world.

The diamond, the largest recovered from Letšeng, is believed to be the fifth largest gem quality diamond ever recovered.

Clifford Elphick, Gem Diamonds' Chief Executive Officer, commented:

"Since Gem Diamonds acquired Letšeng in 2006, the mine has produced some of the world's most remarkable diamonds, including the 603 carat Lesotho Promise, however, this exceptional top quality diamond is the largest to be mined to date and highlights the unsurpassed quality of the Letšeng mine. This is a landmark recovery for all of Gem Diamonds' stakeholders, including our employees, shareholders and the Government of Lesotho, our partner in the Letšeng mine."

A photograph of the diamond, and further information on the Company, can be viewed on the Gem Diamonds' website www.gemdiamonds.com

The Gem Diamonds Limited LEI number is 213800RC2PGGMZQG8L67.