StocksMedium•4 November 2026•
1 min read
Gem Diamonds Raises 2026 Outlook on Exceptional Stone Sales
Key Facts
1Gem Diamonds raised its 2026 outlook following strong quarterly revenue driven by the sale of exceptional diamonds.
2Revenue increased despite lower overall production volume, reflecting strong pricing for large stones from the Letšeng mine.
Gem Diamonds raised its 2026 outlook after third-quarter revenue grew 35% to reach $34.8 million. mining.com reported that this performance was driven by the sale of exceptional diamonds from the Letšeng mine in Lesotho, which offset a 22% decline in sales volumes during the period.
The average realized price per carat jumped 73% to $1,945, as four diamonds sold for more than $1 million each contributed nearly 64% of total quarterly revenue. Gem Diamonds is currently finalizing commercial terms with Nedbank and Standard Bank to renew revolving credit facilities ahead of their expiry on December 21, 2026.