British junior miner Gem Diamonds with operations in Botswana and Lesotho is upbeat following announcement of the company’s full year results for 2014.
Gem Diamonds on Tuesday said it has demonstrated a strong operational performance, delivering on a number of strategic objectives, resulting in a robust financial position and maiden dividend.
In addition, the company boasts of enhancing operational efficiencies and investing in innovative technologies at both Letseng and Ghaghoo, in Lesotho and Botswana respectively, delivering improved earnings and positioning Gem Diamonds for long term sustainable growth.
In 2014, the company successfully delivered on a number of key growth objectives including bringing Ghaghoo into production, significantly enhancing operational efficiencies at Letseng and delivering a maiden dividend, said Clifford Elphick, Chief Executive Officer of Gem Diamonds.
Elphick said the company expect to see a significant shift in production figures, following expansion from a single producing mine to two producing mines.
Gem Diamonds is optimistic the medium to long term fundamentals look positive, despite a number of challenges in the diamond market recently.
In 2014 the Letseng mine in Lesotho recovered 108 569 carats while Ghaghoo mine in Botswana finished the project’s on time and on budget.
The final commissioning and optimization of the plant is in progress, a total of 10 167 carats recovered during commissioning. Enditem
Source: Xinhua
