StockMarketWire.com - Gem Diamonds reported an increase in half-yearly revenue after selling more higher priced diamonds in the first half of the year.

From 1 January 2020 to 30 June 2020, the company 16 diamonds for more than US$1.0m each, generating revenue of US$29.4m, up from 12 diamonds sold for more than US$1.0 million each, generating US$26.6 million of revenue in the second half of the year.

The average price was US$1 707 per carat, up from US$1 576 per carat in the second half of the year.

'Letseng returned to its standard treatment capacity during Q2 2020 after temporarily suspending operations for 30 days in line with the Lesotho Government's regulations to curb the spread of the Covid-19 virus,' the company said.

'The full impact of the Covid-19 pandemic on Letšeng's operations and production outlook for 2020 remains uncertain. Revised guidance will be released when the Company has greater clarity on the market environment,' it added.

At 9:56am: [LON:GEMD] Gem Diamonds Ltd share price was -0.9p at 24.5p



Story provided by StockMarketWire.com