Gem Diamonds Ltd (OTCMKT:GMDMF) Sold the Lesotho Legend for $40-M

Gem Diamonds Ltd (OTCMKT:GMDMF) Sold the Lesotho Legend for $40-M

Gem Diamonds Ltd (OTCMKT:GMDMF) Sold the Lesotho Legend for $40-M


Last Tuesday, the 910-carat Diamond, dubbed the Lesotho Legend was sold in a tender in Antwerp, Gem Diamonds Ltd. said in a press release

Gem Diamonds (OTCMKT:GMDMF) found the huge gem stone at its Letseng mine early this year.

To date it is the 5th most expensive Diamond ever.

Lucara Diamond Corp. (OTCMKT:LUCRF) holds the record price for a Diamond at $63-M for an 813-carat stone last year and $53-M for another Diamond at 1,109 carats it found at the same time, the 2nd-biggest found in history.

 The Letseng mine is famous for the size and quality of the diamonds it produces and has the highest average selling price in the world according to the Company’s statement.
Also, Gem Diamonds sold a 357-carat stone for $19.3-M in Y 2015 and in Y 2006 found the 603-carat Lesotho Promise according to their reports.
YTD, the company has unearthed 6 Diamonds larger than 100 carats, it is on track for its best year ever.
Symbol Last Trade Date Change Open High Low Volume
OTCMKT:GMDMF 1.24 9 March 2018 0.04 1.24 1.24 1.24 5,200
HeffX-LTN Analysis for GMDMF: Overall Short Intermediate Long
Bearish (-0.40) Neutral (-0.16) Very Bearish (-0.66) Bearish (-0.37)
Have a terrific weekend.
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Paul Ebeling

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