Results 

Gem Diamonds’ sparkling turnaround

Gem Diamonds’ sparkling turnaround

No one buys a diamond miner for its bond-like dependability. But even by the sector’s volatile standards, Gem Diamonds’ (GEMD) first-half turnaround takes some beating. In six months the company has recovered 124 diamonds of at least 20 carats at its Letšeng mine in Lesotho. Of those, 25 have sold for $1m or more, and 10 have exceeded 100 carats. Within the latter group, a single 910-carat stone fetched $40m (£31.2m) at auction.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now