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Liberum expects ‘solid’ FY performance from Gem Diamonds

Liberum expects ‘solid’ FY performance from Gem Diamonds

Photo by Duane Daws

14th March 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – Fund manager Liberum Capital expects London-listed Gem Diamonds’ full-year financial results, which will be released on March 18, to be “solid”, considering that the introduction of new crushers at the Letsêng and Ghaghoo projects, in Lesotho, are advancing as planned.

“The coming year remains on track to be a better year for the company, with strong prices being reported at tenders and polished prices moving up 3.4%, as well as more material having been mined from the higher-value, higher-grade satellite pipe,” the firm said in a statement.

Liberum added that the overall diamond supply outlook remained constrained, whereas demand looked strong and stable, with confidence in a global economic recovery growing.

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Edited by Tracy Klückow
Creamer Media Contributing Editor

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