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Gem large diamond recoveries enter double digits

Gem Diamonds (LSE:GEMD) has had a good 2018, with its recoveries of over-110 carat diamond already in the double digits.

Staff reporter
The eleventh over-100ct stone recovered by Gem so far this year

The eleventh over-100ct stone recovered by Gem so far this year

Its latest recovery is its eleventh large stone for the year, a 100.5ct top white colour type 2a diamond from its 70%-owned Letšeng mine in Lesotho.

Among the other 10 is the Lesotho Legend, an exceptional quality 910ct D colour type 2a diamond that is the second largest recovered in the past century. It was sold in March for US$40 million.

In 2017, Gem recovered seven over-100ct diamonds.

The company's shares were down 2% Friday to £1.145 (US$1.50).

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