March 19, 2020 / 7:57 AM / in 18 days

BRIEF-Gem Diamonds Says Letseng Small Diamond Tender Realised US$ 7.8 MLN

March 19 (Reuters) - Gem Diamonds Ltd:

* RESULT OF THE LETSENG SMALL DIAMOND TENDER

* TENDER REALISED US$ 7.8 MILLION WHICH IS 18% BELOW LIKE FOR LIKE PRICES REACHED AT LAST SMALL DIAMOND TENDER HELD IN NOV

* LETSENG LARGE DIAMOND TENDER, COMMENCED ON 16 MARCH AND WAS DUE CLOSE ON 25 MARCH, HAS BEEN CANCELLED DUE TO RESTRICTIONS ON COVID19

* LETSENG MINE REMAINS IN FULL PRODUCTION

* IN PLACE OF LETSENG LARGE DIAMOND TENDER A FLEXIBLE DIRECT SALE PROCESS PUT IN PLACE FOR THESE LARGE AND HIGH QUALITY DIAMONDS Source text for Eikon: Further company coverage:

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