Gem Diamonds Limited provides the following Trading Update detailing the Group’s operational and sales performance from 1 October 2024 to 31 December 2024 (Q4 2024).
According to the provided Highlights,
1: All operational metrics for FY 2024 are within or ahead of the improved revised guidance.
2: 24 461 carats were recovered during the Period, resulting in 105 012 carats recovered for the year (FY 2023: 109 656).
3: 13 diamonds greater than 100 carats were recovered in the year (FY 2023: Five).
4: 26 356 carats were sold during the Period, achieving an average price of US$1 223 per carat, resulting in 109 967 carats sold for the year achieving an average price of US$1 390 per carat (FY 2023: 104 520 carats sold for US$1 334 per carat).
The highest price achieved in the Period was US$45 077 per carat for a 3.52 carat pink diamond. Six diamonds sold for more than US$1.0 million each during the Period, contributing US$11.6 million & four greater than 100 carat diamonds were sold during the Period.
FY 2024 performance compared to revised guidance, Direct cash costs (before waste) per tonne treated and mining waste cash costs per tonne of waste mined are expected to be within the guidance range. Operating cost per tonne treated is anticipated to be slightly above guidance impacted by non-cash cost adjustments to inventory, waste and ore stockpile.
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