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Editor in Chief Mohamed Wadie

Gem Diamonds recovers 123 ct diamond from Letšeng


Diamond

Tue 02 Jul 2024 | 06:53 PM
Waleed Farouk

Gem Diamonds has recovered a 123.20 ct Type II white diamond from the Letšeng mine, in Lesotho.

This marks the eighth diamond greater than 100 ct in size that the company has recovered in the year.

The company owns 70% of the Letšeng mine in Lesotho. The mine is famous for the production of large, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world.

Shares of Gem Diamonds london-listed rose 33% on Monday . The stock traded as high as $0.17 and last traded at $0.17. Approximately 10,000 shares were traded during mid-day trading, an increase of 127% from the average daily volume of 4,406 shares. The stock had previously closed at $0.12.

Gem Diamonds Stock Up 33.0 %, The company has a 50 day moving average price of $0.16 and a two-hundred day moving average price of $0.16.

Gem Diamonds , together with its subsidiaries, operates diamond mines. It also produces, manufactures, sells, and markets rough and polished diamonds; and provides technical, financial, and management consulting services. It operates in Lesotho, Botswana, Belgium, British Virgin Islands, South Africa, the United Kingdom, and Cyprus.