Company
LON:GEMD
Gem Diamonds Limited is a leading global diamond producer of large high value diamonds. The company owns 70% of the Letšeng mine in Lesotho and is currently in the process of selling its 100% share of the Ghaghoo mine in Botswana. The Letšeng mine is famous for the production of large, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world.
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After a recent trip to Antwerp, Berenberg’s analysts said: “Sentiment is mixed, with rough diamond prices starting the year on a relatively lacklustre note, but at least remaining stable, rather than weakening"
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Big financing news from Sirius Minerals and a US$65mln investment from Australian giant Newcrest into Greatland Gold’s Havieron project have dominated the news this week
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The ten richest diamond mines in the world are all located within four countries, but why is the diamond mining industry constrained to such a limited number of locales?
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The per carat price of the pink diamond, which was recovered last month, was US$657,000 – a record for a stone found at Gem’s Letšeng mine in Lesotho
The January US Durable Goods Orders and Shipments Report showed that business equipment investment got off to a sluggish start this year, Berenberg Capital Markets noted
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While major fiscal measures are not expected, the result of Tuesday's vote on Theresa May's Brexit deal could put the chancellor on the spot
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Aside from Morrison's, the Week Ahead will also bring updates from housebuilder Berkeley Group, insurer Prudential and fund manager Standard Life Aberdeen
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A survey of 2,000 millennial women found that synthetic diamonds are becoming increasingly popular among the younger generation, who don’t care to spend hundreds of pounds of real diamonds
The UK's premier index closed up around 36 points at 7,367.
"Letšeng's improved recoveries combined with the discovery and subsequent sale of the Lesotho Legend has generated a strong set of results."
The pound added 0.03% against the Euro and was up 0.40% against the US dollar..
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London will be a hot issue for both house-builders. Much of the rear-view mirror stuff has already been released so the focus will be on current trading.
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Aside from the housebuilders, the week head will also see updates from advertising giant WPP, electricals retailer Dixons Carphone, and transport operator Go-Ahead Group
The Letšeng mine's latest treasure is described as a 138 carat, top white colour Type IIa diamond
