As noted in the company, a pink diamond weighing 8.65 carats was sold at an average price of $ 164,855 per carat, and on this indicator it is ranked sixth of all the stones extracted from the mine Letseng. The company managed to sell 11 diamonds for the price of more than $ 1 million in total for $ 20.4 million.
Meanwhile, Gem Diamonds in the first quarter produced 25,479 carats at a content of 1.53 carats per hundred tons of ore against the expected level of 1.61 carats per hundred tons of ore, mainly due to weaker indicators extracted from the main rock tube.
"On Letseng managed to obtain higher quality diamonds during this period, and it is encouraging that in April and May there was a marked improvement in the amount and quality of diamonds, despite the fact that the value of diamonds per carat achieved positive growth", - said Klifford Elfik (Clifford Elphick ), CEO of Gem Diamonds.
"The market of high-quality diamonds from Letseng during this period remained stable, and it is expected that it will continue to be so in the second half of this year", - he added.
Gem Diamonds stated that a high quality diamond color D 98.42 carat weight type II, produced during the quarter, to be sold in June.
At the end of the reporting period, the company's cash amounted to $ 29.2 million.
Gem Diamonds has also reported that the mine premises Ghaghu (Ghaghoo) in Botswana for conservation was successfully made before March 31, 2017.
During this period, sales with Ghaghu not carried out, and the remaining 13 000 carats from the mine will be sold in the second quarter.
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Dominion Diamond Corporation stock price rose more than 3% in the framework of trading after reports that the Canada Pension Plan Investment Board (CPPIB) a Canadian pension fund is considering buying a diamond mining company. It is reported by Rapaport portal.
CPPIB is studying financial statements Dominion, becoming one of the five companies that have signed with the diamond company agreement on access to sensitive data, Reuters reported last Thursday, citing unnamed sources familiar with the negotiations.
Probably, the pension fund will not make their own offer to buy, and instead will finance a third party with experience in mining, the sources noted. Dominion, which owns Ekati mine (Ekati) and Diavik project 40% (Diavik), did not comment on the situation.
In 2015, the CPPIB, which is headquartered in Toronto, has studied the financial Dominion data. While diamond company worked with Rothschild & Co., according to some sources. Dominion sought at the expense of the bank to expand shareholder value.
In March, Dominion has rejected a takeover bid by the Washington Companies worth $ 1.1 billion. Around the same time, according to Reuters, Stornoway Diamond Corporation held consultations with Dominion regarding the merger.
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