Gem Diamonds bullish on securing Gope licence

"Negotiations for the licence are ongoing and should be completed by the end of the year," Gem stated in a statement accompanying its third quarter update. Gope has a resource of 20,5-milliion carats with an average one site value of $3,3-billion.

If a mining licence is granted, Gem will develop Gope into a mine producing over one-million carats a year.
LSE-listed Gem Diamonds CEO Clifford Elphick yesterday said that the company would continue to drive the growth plans at its Leteng and Ellendale mines, despite the impact that the continued strength of the Lesotho loti and the Australian dollar were having on operating costs.